Progyny (NASDAQ:PGNY) Updates FY 2021 Earnings Guidance

Progyny (NASDAQ:PGNY) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.510-$0.540 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.470. The company issued revenue guidance of $507 million-$514 million, compared to the consensus revenue estimate of $519.14 million.Progyny also updated its Q4 2021 guidance to $0.010-$0.030 EPS.

PGNY traded down $1.42 during trading on Thursday, hitting $53.29. 648,587 shares of the company’s stock were exchanged, compared to its average volume of 922,047. Progyny has a fifty-two week low of $34.00 and a fifty-two week high of $68.32. The stock has a market cap of $4.82 billion, a P/E ratio of 59.21 and a beta of 1.69. The business’s 50 day moving average is $59.78 and its two-hundred day moving average is $57.74.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, November 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.11. Progyny had a net margin of 18.96% and a return on equity of 29.67%. The firm had revenue of $122.30 million during the quarter, compared to analyst estimates of $125.52 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue was up 23.7% compared to the same quarter last year. As a group, research analysts expect that Progyny will post 0.54 earnings per share for the current year.

Several research firms have recently issued reports on PGNY. Barclays upped their target price on shares of Progyny from $72.00 to $80.00 and gave the stock an overweight rating in a research note on Tuesday, September 28th. JPMorgan Chase & Co. upped their target price on shares of Progyny from $65.00 to $79.00 and gave the stock an overweight rating in a research note on Friday, October 22nd. Citigroup lowered shares of Progyny from a buy rating to a neutral rating and upped their target price for the stock from $60.00 to $64.00 in a research note on Monday. Zacks Investment Research lowered shares of Progyny from a buy rating to a hold rating in a research report on Wednesday, November 10th. Finally, Berenberg Bank began coverage on shares of Progyny in a research report on Thursday, September 30th. They set a buy rating and a $81.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Buy and an average price target of $69.43.

In other news, CEO David J. Schlanger sold 50,000 shares of the stock in a transaction dated Friday, September 3rd. The shares were sold at an average price of $57.17, for a total value of $2,858,500.00. Following the sale, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at $2,858,500. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Norman Payson sold 8,330 shares of the stock in a transaction dated Wednesday, November 17th. The stock was sold at an average price of $63.36, for a total transaction of $527,788.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 597,943 shares of company stock valued at $35,489,546. 19.40% of the stock is owned by company insiders.

An institutional investor recently raised its position in Progyny stock. Morgan Stanley lifted its position in Progyny, Inc. (NASDAQ:PGNY) by 41.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 689,333 shares of the company’s stock after buying an additional 200,480 shares during the quarter. Morgan Stanley owned approximately 0.77% of Progyny worth $40,671,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 85.61% of the company’s stock.

Progyny Company Profile

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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