Progyny (NASDAQ:PGNY) Releases Q2 Earnings Guidance

Progyny (NASDAQ:PGNYGet Rating) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.01 to $0.02 for the period, compared to the consensus estimate of $0.01. The company issued revenue guidance of $188 million to $193 million, compared to the consensus revenue estimate of $189.03 million.Progyny also updated its FY22 guidance to $0.07 to $0.14 EPS.

Shares of PGNY traded down $0.52 during trading hours on Friday, hitting $36.30. 7,097 shares of the stock were exchanged, compared to its average volume of 509,442. Progyny has a fifty-two week low of $32.86 and a fifty-two week high of $68.32. The business has a 50-day moving average of $44.58 and a 200-day moving average of $47.55. The firm has a market capitalization of $3.33 billion, a P/E ratio of 54.94, a price-to-earnings-growth ratio of 13.00 and a beta of 2.01.

Progyny (NASDAQ:PGNYGet Rating) last posted its quarterly earnings data on Monday, February 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.11. Progyny had a net margin of 13.14% and a return on equity of 30.41%. The company had revenue of $127.55 million during the quarter, compared to analysts’ expectations of $134.87 million. During the same period in the prior year, the company posted $0.07 earnings per share. Progyny’s revenue for the quarter was up 27.2% compared to the same quarter last year. As a group, equities analysts anticipate that Progyny will post 0.14 earnings per share for the current year.

A number of research firms have commented on PGNY. TheStreet cut shares of Progyny from a c- rating to a d+ rating in a report on Friday, January 28th. Zacks Investment Research upgraded Progyny from a sell rating to a hold rating in a research note on Wednesday, March 2nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Progyny has a consensus rating of Buy and a consensus target price of $70.43.

In other Progyny news, Director Norman Payson sold 8,330 shares of Progyny stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $40.35, for a total transaction of $336,115.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Anevski sold 600 shares of Progyny stock in a transaction dated Friday, February 11th. The shares were sold at an average price of $42.00, for a total value of $25,200.00. The disclosure for this sale can be found here. Insiders have sold 543,696 shares of company stock valued at $23,159,237 over the last quarter. Corporate insiders own 14.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Progyny by 1.7% in the 4th quarter. BlackRock Inc. now owns 7,923,625 shares of the company’s stock worth $398,955,000 after buying an additional 136,122 shares during the last quarter. Morgan Stanley boosted its stake in shares of Progyny by 41.0% in the 2nd quarter. Morgan Stanley now owns 689,333 shares of the company’s stock worth $40,671,000 after buying an additional 200,480 shares during the last quarter. Norges Bank purchased a new position in shares of Progyny in the 4th quarter worth approximately $11,466,000. Sei Investments Co. boosted its stake in shares of Progyny by 6.8% in the 4th quarter. Sei Investments Co. now owns 141,199 shares of the company’s stock worth $7,103,000 after buying an additional 9,043 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Progyny by 1.2% in the 4th quarter. Legal & General Group Plc now owns 90,316 shares of the company’s stock worth $4,547,000 after buying an additional 1,115 shares during the last quarter. Institutional investors and hedge funds own 82.51% of the company’s stock.

Progyny Company Profile (Get Rating)

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions for employers 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.

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Earnings History and Estimates for Progyny (NASDAQ:PGNY)

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