Progyny (NASDAQ:PGNY) Releases Earnings Results, Hits Expectations

Progyny (NASDAQ:PGNY) released its earnings results on Tuesday. The company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17, Briefing.com reports. Progyny had a net margin of 5.53% and a return on equity of 11.61%. The business had revenue of $304.09 million during the quarter, compared to analyst estimates of $305.32 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year.

Progyny Trading Down 19.0 %

NASDAQ PGNY traded down $4.89 during trading hours on Wednesday, reaching $20.85. The company had a trading volume of 5,721,954 shares, compared to its average volume of 1,005,518. The stock has a market capitalization of $1.99 billion, a P/E ratio of 34.18, a price-to-earnings-growth ratio of 1.76 and a beta of 1.46. Progyny has a 1-year low of $19.60 and a 1-year high of $42.08. The stock has a 50-day moving average of $27.53 and a 200 day moving average of $32.36.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PGNY. Barclays dropped their target price on shares of Progyny from $48.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, May 13th. SVB Leerink lowered shares of Progyny from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $31.00 to $25.00 in a report on Wednesday. KeyCorp lowered shares of Progyny from an “overweight” rating to a “sector weight” rating in a report on Friday, May 10th. Truist Financial dropped their target price on shares of Progyny from $37.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $24.00 target price (down previously from $37.00) on shares of Progyny in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Insider Transactions at Progyny

In other news, Director Cheryl Scott sold 1,462 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the sale, the director now owns 10,098 shares of the company’s stock, valued at $286,682.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Michael E. Sturmer sold 9,030 shares of the 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 sale, the president now owns 362,583 shares of the company’s stock, valued at $10,877,490. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cheryl Scott sold 1,462 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were 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 in the company, valued at approximately $286,682.22. The disclosure for this sale can be found here. 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.