Progyny (NASDAQ:PGNY) Issues 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 FY 2024 guidance to 1.530-1.610 EPS.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PGNY. SVB Leerink downgraded Progyny from an outperform rating to a market perform rating and lowered their target price for the company from $31.00 to $25.00 in a research note on Wednesday. BTIG Research lowered Progyny from a buy rating to a neutral rating in a research note on Wednesday. Barclays cut their target price on Progyny from $48.00 to $30.00 and set an overweight rating on the stock in a research report on Monday, May 13th. KeyCorp downgraded shares of Progyny from an overweight rating to a sector weight rating in a research report on Friday, May 10th. Finally, Canaccord Genuity Group lowered shares of Progyny from a buy rating to a hold rating and dropped their price target for the stock from $37.00 to $24.00 in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $34.50.

Progyny Price Performance

NASDAQ:PGNY traded down $4.89 during midday trading on Wednesday, reaching $20.85. 5,721,954 shares of the company traded hands, compared to its average volume of 1,005,518. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 1.76 and a beta of 1.46. The company has a fifty day moving average price of $27.53 and a 200 day moving average price of $32.36. Progyny has a twelve month low of $19.60 and a twelve month high of $42.08.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Progyny had a net margin of 5.53% and a return on equity of 11.61%. The company had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts forecast that Progyny will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Progyny

In other news, Director Cheryl Scott sold 1,462 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $28.39, for a total transaction of $41,506.18. Following the completion of the transaction, the director now directly owns 10,098 shares in the company, valued at $286,682.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the transaction, the president now owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $28.39, for a total transaction of $41,506.18. Following the completion of 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 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.