Progyny (NASDAQ:PGNY) Releases FY 2022 Earnings Guidance

Posted by on May 23rd, 2022

Progyny (NASDAQ:PGNY – Get Rating) updated its FY 2022 earnings guidance on Monday. 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.

A number of brokerages recently commented on PGNY. Zacks Investment Research raised shares of Progyny from a hold rating to a buy rating and set a $38.00 price objective for the company in a research note on Thursday, May 12th. TheStreet lowered shares of Progyny from a c- rating to a d+ rating in a report on Friday, January 28th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $65.86.

NASDAQ:PGNY opened at $35.18 on Monday. Progyny has a one year low of $32.06 and a one year high of $68.32. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 62.82, a PEG ratio of 17.58 and a beta of 2.01. The firm’s fifty day moving average is $42.83 and its two-hundred day moving average is $45.46.

Progyny (NASDAQ:PGNY – Get Rating) last posted its quarterly earnings results on Monday, February 28th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.04 by $0.11. The company had revenue of $127.55 million for the quarter, compared to analyst estimates of $134.87 million. Progyny had a net margin of 10.09% and a return on equity of 23.15%. The firm’s revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 earnings per share. On average, research analysts predict that Progyny will post 0.1 EPS for the current year.

In related news, CEO Peter Anevski sold 125,931 shares of the company’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $39.09, for a total transaction of $4,922,642.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David J. Schlanger sold 139,776 shares of the company’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $39.13, for a total transaction of $5,469,434.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 514,485 shares of company stock valued at $21,912,831. Insiders own 14.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGNY. Norges Bank acquired a new position in shares of Progyny during the 4th quarter worth about $11,466,000. Morgan Stanley grew its stake in Progyny by 41.0% during the 2nd quarter. Morgan Stanley now owns 689,333 shares of the company’s stock valued at $40,671,000 after acquiring an additional 200,480 shares in the last quarter. BlackRock Inc. grew its stake in Progyny by 1.7% during the 4th quarter. BlackRock Inc. now owns 7,923,625 shares of the company’s stock valued at $398,955,000 after acquiring an additional 136,122 shares in the last quarter. Clearbridge Investments LLC grew its stake in Progyny by 2.7% during the 1st quarter. Clearbridge Investments LLC now owns 3,223,502 shares of the company’s stock valued at $165,688,000 after acquiring an additional 86,249 shares in the last quarter. Finally, State Street Corp grew its stake in Progyny by 4.0% during the 1st quarter. State Street Corp now owns 2,075,678 shares of the company’s stock valued at $106,690,000 after acquiring an additional 80,100 shares in the last quarter. Hedge funds and other 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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