Progyny (NASDAQ:PGNY) Updates FY 2022 Earnings Guidance

Progyny (NASDAQ:PGNYGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $0.14-$0.19 for the period, compared to the consensus EPS estimate of $0.09. The company issued revenue guidance of $750.00 million-$775.00 million, compared to the consensus revenue estimate of $756.81 million. Progyny also updated its FY22 guidance to $0.14-$0.19 EPS.

Progyny Trading Down 8.5 %

PGNY stock traded down $2.78 during midday trading on Thursday, hitting $29.77. 1,620,812 shares of the company’s stock were exchanged, compared to its average volume of 752,573. The business has a 50-day simple moving average of $30.09 and a two-hundred day simple moving average of $37.36. The stock has a market capitalization of $2.74 billion, a PE ratio of 53.16, a P/E/G ratio of 16.23 and a beta of 1.85. Progyny has a 1-year low of $25.67 and a 1-year high of $68.32.

Progyny (NASDAQ:PGNYGet Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $172.22 million during the quarter, compared to analysts’ expectations of $167.49 million. Progyny had a return on equity of 23.15% and a net margin of 10.09%. As a group, research analysts expect that Progyny will post 0.09 EPS for the current fiscal year.

Insider Activity at Progyny

In other Progyny news, Director Norman Payson sold 6,618 shares of Progyny stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $33.45, for a total transaction of $221,372.10. Following the completion of the sale, the director now directly owns 490,828 shares of the company’s stock, valued at approximately $16,418,196.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Progyny news, Chairman David J. Schlanger sold 1,452 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $31.21, for a total transaction of $45,316.92. Following the transaction, the chairman now owns 82,548 shares in the company, valued at approximately $2,576,323.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Norman Payson sold 6,618 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $33.45, for a total value of $221,372.10. Following the transaction, the director now owns 490,828 shares in the company, valued at approximately $16,418,196.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,622 shares of company stock worth $1,078,038. Company insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Progyny

Institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in Progyny in the 1st quarter valued at approximately $62,000. Parkside Financial Bank & Trust purchased a new stake in Progyny in the 1st quarter valued at approximately $70,000. Captrust Financial Advisors lifted its stake in Progyny by 25.0% in the 1st quarter. Captrust Financial Advisors now owns 2,091 shares of the company’s stock valued at $107,000 after buying an additional 418 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in Progyny in the 1st quarter valued at approximately $216,000. Finally, Bank of Montreal Can grew its position in shares of Progyny by 25.2% in the first quarter. Bank of Montreal Can now owns 7,278 shares of the company’s stock valued at $381,000 after purchasing an additional 1,465 shares during the period. Institutional investors and hedge funds own 82.51% of the company’s stock.

About Progyny

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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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