Progyny (NASDAQ:PGNY) Issues FY24 Earnings Guidance

Progyny (NASDAQ:PGNY) updated its FY24 earnings guidance on Thursday. 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 FY 2024 guidance to 1.610-1.680 EPS.

Progyny Price Performance

Shares of NASDAQ PGNY traded up $0.34 during mid-day trading on Thursday, hitting $32.50. 1,646,876 shares of the company’s stock traded hands, compared to its average volume of 800,912. The company has a market capitalization of $3.12 billion, a P/E ratio of 52.42, a PEG ratio of 1.31 and a beta of 1.51. Progyny has a 1 year low of $29.44 and a 1 year high of $44.95. The company’s 50-day moving average is $34.67 and its two-hundred day moving average is $35.59.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $269.94 million for the quarter, compared to the consensus estimate of $274.08 million. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. Equities analysts anticipate that Progyny will post 0.7 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In other Progyny news, President Michael E. Sturmer sold 6,395 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.60, for a total value of $240,452.00. Following the completion of the sale, the president now directly owns 384,553 shares in the company, valued at $14,459,192.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Chairman David J. Schlanger sold 71,272 shares of the stock in a transaction dated 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 directly owns 86,312 shares of the company’s stock, valued at $3,262,593.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael E. Sturmer sold 6,395 shares of Progyny stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.60, for a total value of $240,452.00. Following the sale, the president now directly owns 384,553 shares of the company’s stock, valued at approximately $14,459,192.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,770 shares of company stock worth $3,853,985. Corporate insiders own 12.30% of the company’s stock.

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.