Progyny (NASDAQ:PGNY) Updates FY 2022 Earnings Guidance

Progyny (NASDAQ:PGNYGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.07-$0.14 for the period, compared to the consensus earnings per share estimate of $0.12. The company issued revenue guidance of $735.00 million-$775.00 million, compared to the consensus revenue estimate of $754.06 million.Progyny also updated its Q2 2022 guidance to $0.01-$0.02 EPS.

Shares of Progyny stock traded down $3.73 on Monday, hitting $33.54. 6,437 shares of the company traded hands, compared to its average volume of 708,688. The firm’s 50-day simple moving average is $44.54 and its 200 day simple moving average is $47.22. The company has a market cap of $3.08 billion, a P/E ratio of 66.55, a P/E/G ratio of 12.42 and a beta of 2.01. Progyny has a 12-month low of $32.86 and a 12-month high of $68.32.

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, beating the consensus estimate of $0.04 by $0.11. The firm had revenue of $127.55 million for the quarter, compared to analysts’ expectations of $134.87 million. Progyny had a net margin of 10.09% and a return on equity of 24.50%. The business’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the company posted $0.07 EPS. Research analysts forecast that Progyny will post 0.02 EPS for the current year.

PGNY has been the topic of several research reports. TheStreet cut shares of Progyny from a c- rating to a d+ rating in a research report on Friday, January 28th. Zacks Investment Research raised shares of Progyny from a sell rating to a hold rating in a report on Wednesday, March 2nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Progyny has a consensus rating of Buy and a consensus price target of $70.43.

In other news, Director Norman Payson sold 8,330 shares of the firm’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $43.91, for a total value of $365,770.30. Following the completion of the sale, the director now directly owns 505,776 shares of the company’s stock, valued at approximately $22,208,624.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman David J. Schlanger sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 11th. The stock was sold at an average price of $42.00, for a total transaction of $42,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 543,696 shares of company stock worth $23,159,237. Insiders own 14.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Legal & General Group Plc lifted its position in Progyny by 1.2% during the 4th quarter. Legal & General Group Plc now owns 90,316 shares of the company’s stock valued at $4,547,000 after acquiring an additional 1,115 shares during the period. Invesco Ltd. lifted its position in Progyny by 8.5% during the 4th quarter. Invesco Ltd. now owns 80,504 shares of the company’s stock valued at $4,054,000 after acquiring an additional 6,319 shares during the period. California State Teachers Retirement System lifted its position in Progyny by 3.6% during the 4th quarter. California State Teachers Retirement System now owns 80,409 shares of the company’s stock valued at $4,049,000 after acquiring an additional 2,815 shares during the period. Parametric Portfolio Associates LLC lifted its position in Progyny by 6.9% during the 4th quarter. Parametric Portfolio Associates LLC now owns 67,417 shares of the company’s stock valued at $3,394,000 after acquiring an additional 4,342 shares during the period. Finally, MetLife Investment Management LLC lifted its position in Progyny by 1.2% during the 4th quarter. MetLife Investment Management LLC now owns 56,364 shares of the company’s stock valued at $2,838,000 after acquiring an additional 676 shares during the period. 82.51% of the stock is owned by hedge funds and other institutional investors.

About Progyny (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.

Further Reading

Earnings History and Estimates for Progyny (NASDAQ:PGNY)

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