Progyny (NASDAQ:PGNY) Updates Q3 Earnings Guidance

Progyny (NASDAQ:PGNY) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.11 to $0.14 for the period, compared to the consensus earnings per share estimate of $0.20. The company issued revenue guidance of $290.0 million to $303.0 million, compared to the consensus revenue estimate of $324.68 million. Progyny also updated its FY24 guidance to $0.57 to $0.64 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of Progyny from $46.00 to $37.00 and set a buy rating on the stock in a research note on Friday, May 17th. Canaccord Genuity Group dropped their price target on shares of Progyny from $46.00 to $37.00 and set a buy rating on the stock in a research report on Friday, May 10th. Barclays decreased their price objective on shares of Progyny from $48.00 to $30.00 and set an overweight rating for the company in a report on Monday, May 13th. Cantor Fitzgerald reiterated an overweight rating and issued a $48.00 target price on shares of Progyny in a research note on Thursday, May 16th. Finally, KeyCorp cut shares of Progyny from an overweight rating to a sector weight rating in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $42.40.

Progyny Stock Up 1.7 %

Shares of Progyny stock traded up $0.42 during trading on Tuesday, reaching $25.74. The company’s stock had a trading volume of 2,415,410 shares, compared to its average volume of 973,931. Progyny has a 52-week low of $23.90 and a 52-week high of $42.08. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 42.20, a PEG ratio of 1.76 and a beta of 1.46. The firm’s 50-day moving average is $27.66 and its two-hundred day moving average is $32.52.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Progyny had a net margin of 5.53% and a return on equity of 11.61%. The company had revenue of $278.08 million during the quarter, compared to analysts’ expectations of $289.41 million. During the same quarter in the prior year, the company earned $0.18 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts anticipate that Progyny will post 0.73 EPS for the current year.

Insider Buying and Selling at Progyny

In other Progyny news, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $28.39, for a total value of $41,506.18. Following the completion of the transaction, the director now directly owns 10,098 shares in the company, valued at approximately $286,682.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Michael E. Sturmer sold 9,030 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the sale, the president now directly owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cheryl Scott sold 1,462 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the sale, the director now directly owns 10,098 shares in the company, valued at $286,682.22. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by corporate insiders.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.