Progyny (NASDAQ:PGNY) Issues Quarterly Earnings Results

Progyny (NASDAQ:PGNY) issued its quarterly earnings results on Wednesday. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.21, FiscalAI reports. Progyny had a return on equity of 19.23% and a net margin of 6.80%. The firm had revenue of $341.25 million during the quarter, compared to analyst estimates of $340.76 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year.

Here are the key takeaways from Progyny’s conference call:

• Record selling season: Progyny added 1.3 million covered lives and more than 85 clients for 2027, with near-100% retention and about 20% of existing clients expanding their benefits. The company said its pipeline for the next selling season is also its largest ever at this point.
• Raised 2026 guidance: Strong results through the first nine months and healthy member engagement led management to raise the midpoint of full-year revenue and profitability guidance. Excluding revenue from a former client under a transition agreement, the company forecasts full-year revenue growth of 10.1%–11.7%.
• Strong cash generation and buybacks: Progyny reported more than $56 million of operating cash flow in the quarter and $207 million over the trailing 12 months. It repurchased nearly 3 million shares in Q3 and said cumulative repurchases since last November have reduced shares outstanding by nearly 15%.
• Investment and margin considerations: Adjusted EBITDA margin was modestly lower year over year, and the company continues to invest in its platform and growth initiatives. Management expects those investments to taper during 2027 but has not provided a long-term EBITDA margin target.

Progyny Stock Performance

Shares of PGNY traded up $0.46 on Friday, reaching $34.83. The stock had a trading volume of 959,655 shares, compared to its average volume of 1,362,909. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97. The company has a 50-day simple moving average of $27.27 and a 200-day simple moving average of $24.54. Progyny has a 12-month low of $16.10 and a 12-month high of $35.50.

Insider Activity at Progyny

In related news, EVP Allison Swartz sold 3,903 shares of the company’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $26.10, for a total value of $101,868.30. Following the sale, the executive vice president directly owned 75,816 shares of the company’s stock, valued at $1,978,797.60. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Melissa Cummings sold 1,879 shares of the company’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $28.00, for a total value of $52,612.00. Following the completion of the sale, the chief operating officer directly owned 66,496 shares in the company, valued at approximately $1,861,888. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,282 shares of company stock worth $475,790 over the last ninety days. 9.90% of the stock is owned by corporate insiders.

Progyny News Roundup

Here are the key news stories impacting Progyny this week:

• Positive Sentiment: Progyny reported third-quarter earnings of $0.52 per share and revenue of $341.25 million, slightly above the cited consensus revenue estimate. Revenue grew 8.9% year over year, while earnings increased from $0.15 per share a year earlier. Read More.
• Positive Sentiment: The company raised its full-year 2026 earnings guidance, a sign that management sees stronger earnings prospects. Read More.
• Positive Sentiment: Several analysts raised their price targets following the results: Citizens JMP and Leerink Partners moved to $38, while Cantor Fitzgerald raised its target to $35 and maintained an overweight rating. These revisions reinforce a favorable analyst view, although the targets imply varying degrees of potential upside. Read More.
• Neutral Sentiment: Coverage highlighted new client wins and margin expansion, but also noted a cautious market response. This suggests investors may be weighing growth and profitability improvements against expectations already reflected in the stock. Read More.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PGNY shares. Zacks Research cut Progyny from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Wall Street Zen lowered Progyny from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Barclays reduced their price target on shares of Progyny from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Jefferies Financial Group set a $33.00 target price on shares of Progyny in a report on Tuesday, September 8th. Finally, Leerink Partners lifted their price target on Progyny from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.92.

About Progyny

Progyny, Inc is a benefits-management company focused on fertility and family-building care. The company works with employers to provide comprehensive benefits that help members access fertility treatments and related services through a network of specialized providers.

Its offerings include coverage and support for services such as in vitro fertilization, fertility testing, egg and sperm freezing, donor services, gestational surrogacy, and adoption. Progyny also provides pharmacy benefits through Progyny Rx, as well as personalized guidance intended to help members navigate treatment options, providers, and the broader family-building process.

Progyny primarily serves self-insured employers and their employees in the United States.