Progyny (NASDAQ:PGNY) Issues FY 2022 Earnings Guidance

Progyny (NASDAQ:PGNYGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $0.07-$0.14 for the period, compared to the consensus EPS 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.

A number of research analysts have issued reports on PGNY shares. Zacks Investment Research raised Progyny from a hold rating to a buy rating and set a $38.00 target price for the company in a research note on Thursday, May 12th. TheStreet cut Progyny from a c- rating to a d+ rating in a research note on Friday, January 28th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Progyny currently has an average rating of Buy and a consensus price target of $65.86.

Shares of PGNY stock traded down $0.98 on Monday, hitting $34.20. 24,421 shares of the stock were exchanged, compared to its average volume of 702,828. The firm has a market capitalization of $3.14 billion, a P/E ratio of 62.82, a price-to-earnings-growth ratio of 17.58 and a beta of 2.01. The business has a 50-day moving average of $42.83 and a 200 day moving average of $45.46. Progyny has a fifty-two week low of $32.06 and a fifty-two week 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, topping the consensus estimate of $0.04 by $0.11. The company had revenue of $127.55 million during the quarter, compared to analysts’ expectations of $134.87 million. Progyny had a return on equity of 23.15% and a net margin of 10.09%. Progyny’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 earnings per share. As a group, equities research analysts expect that Progyny will post 0.1 earnings per share for the current fiscal year.

In related news, CEO Peter Anevski sold 21,000 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $44.02, for a total transaction of $924,420.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Norman Payson sold 8,330 shares of the company’s 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 514,485 shares of company stock valued at $21,912,831 over the last ninety days. 14.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGNY. Lazard Asset Management LLC bought a new stake in Progyny during the first quarter worth about $62,000. Parkside Financial Bank & Trust bought a new stake in Progyny in the first quarter valued at approximately $70,000. Captrust Financial Advisors raised its stake in Progyny by 25.0% in the first quarter. Captrust Financial Advisors now owns 2,091 shares of the company’s stock valued at $107,000 after buying an additional 418 shares during the period. Mackenzie Financial Corp bought a new stake in Progyny in the first quarter valued at approximately $216,000. Finally, Cetera Investment Advisers raised its stake in Progyny by 4.4% in the fourth quarter. Cetera Investment Advisers now owns 6,359 shares of the company’s stock valued at $320,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds 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.

Further Reading

Earnings History and Estimates for Progyny (NASDAQ:PGNY)

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