FY2024 EPS Estimates for Progyny, Inc. (NASDAQ:PGNY) Cut by Analyst

Progyny, Inc. (NASDAQ:PGNYGet Rating) – Analysts at Jefferies Financial Group lowered their FY2024 earnings per share estimates for Progyny in a note issued to investors on Monday, May 9th. Jefferies Financial Group analyst G. Santangelo now forecasts that the company will post earnings per share of $1.02 for the year, down from their previous forecast of $1.07.

Progyny (NASDAQ:PGNYGet Rating) last posted its earnings results on Monday, February 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. The firm had revenue of $127.55 million during the quarter, compared to the consensus estimate of $134.87 million. Progyny had a net margin of 10.09% and a return on equity of 24.50%. The company’s revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Progyny from a “sell” rating to a “hold” rating in a research note on Wednesday, March 2nd. TheStreet lowered Progyny from a “c-” rating to a “d+” rating in a research report on Friday, January 28th. 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.com, Progyny has an average rating of “Buy” and an average price target of $70.43.

NASDAQ PGNY opened at $33.86 on Wednesday. The stock has a market cap of $3.11 billion, a PE ratio of 60.46, a P/E/G ratio of 12.42 and a beta of 2.01. Progyny has a fifty-two week low of $32.06 and a fifty-two week high of $68.32. The business has a 50 day moving average price of $44.12 and a two-hundred day moving average price of $46.92.

In related news, Chairman David J. Schlanger sold 1,000 shares of the firm’s stock in a transaction on Friday, February 11th. The stock was sold at an average price of $42.00, for a total transaction of $42,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Norman Payson sold 8,330 shares of Progyny stock in a transaction dated Wednesday, February 23rd. The stock was sold at an average price of $35.30, for a total value of $294,049.00. The disclosure for this sale can be found here. Insiders have sold 535,366 shares of company stock valued at $22,823,122 over the last three months. Insiders own 14.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Progyny by 1.7% in the fourth 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 period. Macquarie Group Ltd. grew its position in Progyny by 15.0% in the 3rd quarter. Macquarie Group Ltd. now owns 6,920,250 shares of the company’s stock worth $387,534,000 after purchasing an additional 900,432 shares during the period. American Century Companies Inc. grew its position in Progyny by 407.4% in the 4th quarter. American Century Companies Inc. now owns 2,323,001 shares of the company’s stock worth $116,963,000 after purchasing an additional 1,865,151 shares during the period. State Street Corp grew its position in shares of Progyny by 2.5% during the 4th quarter. State Street Corp now owns 1,995,578 shares of the company’s stock valued at $100,477,000 after acquiring an additional 47,910 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in Progyny by 40.0% in the 3rd quarter. Voya Investment Management LLC now owns 1,798,663 shares of the company’s stock worth $100,725,000 after buying an additional 513,460 shares during the period. Institutional investors own 82.51% of the company’s stock.

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.

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Earnings History and Estimates for Progyny (NASDAQ:PGNY)

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