Progyny (NASDAQ:PGNY) Issues FY 2024 Earnings Guidance

Progyny (NASDAQ:PGNY) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.610-1.680 for the period, compared to the consensus EPS estimate of 0.690. The company issued revenue guidance of $1.2 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. Progyny also updated its FY24 guidance to $0.68 to $0.75 EPS.

Wall Street Analysts Forecast Growth

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

Progyny Trading Up 1.1 %

Shares of NASDAQ:PGNY traded up $0.34 during mid-day trading on Thursday, reaching $32.50. The company had a trading volume of 1,646,876 shares, compared to its average volume of 800,912. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 52.42, a PEG ratio of 1.31 and a beta of 1.51. The company’s 50-day moving average price is $34.67 and its 200-day moving average price is $35.59. Progyny has a one year low of $29.44 and a one year high of $44.95.

Progyny (NASDAQ:PGNY) last issued its earnings results 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. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The business had revenue of $269.94 million for the quarter, compared to analysts’ expectations of $274.08 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, research analysts anticipate that Progyny will post 0.7 EPS for the current fiscal year.

Insider Transactions at Progyny

In other news, President Michael E. Sturmer sold 4,515 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $31.95, for a total value of $144,254.25. Following the transaction, the president now owns 380,038 shares of the company’s stock, valued at $12,142,214.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman David J. Schlanger sold 1,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $37.52, for a total value of $37,520.00. Following the completion of the transaction, the chairman now directly owns 83,631 shares in the company, valued at $3,137,835.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael E. Sturmer sold 4,515 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $31.95, for a total transaction of $144,254.25. Following the completion of the transaction, the president now owns 380,038 shares of the company’s stock, valued at $12,142,214.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,770 shares of company stock valued at $3,853,985. 12.30% of the stock is currently owned by company 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.