Progyny (NASDAQ:PGNY) Issues FY24 Earnings Guidance

Progyny (NASDAQ:PGNY) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.68 to $0.75 for the period, compared to the consensus estimate of $0.70. The company issued revenue guidance of $1.23 billion to $1.27 billion, compared to the consensus revenue estimate of $1.30 billion. Progyny also updated its Q2 guidance to $0.16 to $0.18 EPS.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. KeyCorp reduced their price objective on Progyny from $45.00 to $43.00 and set an overweight rating for the company in a research report on Wednesday, February 28th. Truist Financial reiterated a buy rating and set a $46.00 price target on shares of Progyny in a research report on Wednesday, April 17th. Leerink Partnrs reaffirmed an outperform rating on shares of Progyny in a report on Monday, February 26th. SVB Leerink assumed coverage on Progyny in a report on Monday, February 26th. They set an outperform rating and a $49.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an overweight rating and issued a $48.00 price objective on shares of Progyny in a research report on Wednesday, February 28th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Progyny currently has a consensus rating of Buy and an average price target of $48.30.

Progyny Stock Performance

Shares of PGNY stock traded up $0.34 on Thursday, hitting $32.50. The company had a trading volume of 1,424,296 shares, compared to its average volume of 798,838. The stock’s 50-day moving average is $34.75 and its two-hundred day moving average is $35.61. Progyny has a twelve month low of $29.44 and a twelve month high of $44.95. The firm has a market cap of $3.12 billion, a P/E ratio of 51.87, a P/E/G ratio of 1.31 and a beta of 1.51.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.09 by $0.04. The company had revenue of $269.94 million during the quarter, compared to the consensus estimate of $274.08 million. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 EPS. Equities research analysts predict that Progyny will post 0.7 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman David J. Schlanger sold 71,272 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total value of $2,694,081.60. Following the transaction, the chairman now owns 86,312 shares in the company, valued at $3,262,593.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman David J. Schlanger sold 5,826 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.74, for a total transaction of $219,873.24. Following the completion of the transaction, the chairman now directly owns 86,312 shares in the company, valued at approximately $3,257,414.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David J. Schlanger sold 71,272 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $37.80, for a total value of $2,694,081.60. Following the completion of the sale, the chairman now directly owns 86,312 shares in the company, valued at approximately $3,262,593.60. The disclosure for this sale can be found here. Insiders have sold a total of 102,770 shares of company stock valued at $3,853,985 in the last 90 days. 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.