Progyny (NASDAQ:PGNY) Releases FY24 Earnings Guidance

Progyny (NASDAQ:PGNY) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.57 to $0.64 for the period, compared to the consensus estimate of $0.72. The company issued revenue guidance of $1.165 billion to $1.20 billion, compared to the consensus revenue estimate of $1.23 billion. Progyny also updated its Q3 guidance to $0.11 to $0.14 EPS.

Progyny Stock Performance

NASDAQ:PGNY traded up $0.42 during mid-day trading on Tuesday, hitting $25.74. 2,415,410 shares of the company’s stock traded hands, compared to its average volume of 973,931. The company has a fifty day moving average of $27.66 and a 200 day moving average of $32.52. The company has a market capitalization of $2.45 billion, a P/E ratio of 42.20, a P/E/G ratio of 1.76 and a beta of 1.46. Progyny has a twelve month low of $23.90 and a twelve month high of $42.08.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on PGNY shares. BTIG Research dropped their target price on Progyny from $50.00 to $41.00 and set a buy rating on the stock in a report on Friday, May 10th. JMP Securities began coverage on Progyny in a research report on Tuesday, July 16th. They set an outperform rating and a $36.00 price target on the stock. Barclays lowered their price target on Progyny from $48.00 to $30.00 and set an overweight rating on the stock in a research report on Monday, May 13th. Truist Financial decreased their target price on Progyny from $46.00 to $37.00 and set a buy rating on the stock in a research report on Friday, May 17th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $48.00 price target on shares of Progyny in a report on Thursday, May 16th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $42.40.

Insider Activity at Progyny

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

About Progyny

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.