FY2024 Earnings Estimate for Progyny, Inc. (NASDAQ:PGNY) Issued By Jefferies Financial Group

Progyny, Inc. (NASDAQ:PGNY – Get Rating) – Jefferies Financial Group increased their FY2024 earnings per share (EPS) estimates for Progyny in a research note issued to investors on Wednesday, March 1st. Jefferies Financial Group analyst G. Santangelo now expects that the company will earn $0.44 per share for the year, up from their prior estimate of $0.40. The consensus estimate for Progyny’s current full-year earnings is $0.27 per share. Jefferies Financial Group also issued estimates for Progyny’s FY2025 earnings at $0.77 EPS.

Progyny (NASDAQ:PGNY – Get Rating) last issued its quarterly earnings data on Monday, February 27th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. Progyny had a net margin of 3.86% and a return on equity of 9.24%. The firm had revenue of $214.32 million for the quarter, compared to analysts’ expectations of $211.78 million. During the same quarter in the prior year, the business earned $0.15 EPS. The business’s quarterly revenue was up 68.0% on a year-over-year basis.

PGNY has been the subject of several other research reports. KeyCorp cut their price target on Progyny from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, December 19th. JPMorgan Chase & Co. lowered their target price on shares of Progyny from $78.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 18th. Finally, SVB Leerink reissued a “market perform” rating and set a $34.00 price target (down from $59.00) on shares of Progyny in a report on Thursday, January 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.25.

Progyny Price Performance

Shares of Progyny stock opened at $36.21 on Monday. The stock has a market capitalization of $3.38 billion, a PE ratio of 120.70 and a beta of 1.56. Progyny has a 1-year low of $25.67 and a 1-year high of $53.10. The company’s fifty day simple moving average is $32.79 and its 200-day simple moving average is $36.08.

Institutional Trading of Progyny

A number of institutional investors have recently bought and sold shares of PGNY. KPCB XIII Associates LLC bought a new stake in shares of Progyny in the 4th quarter worth about $201,650,000. Fred Alger Management LLC lifted its stake in Progyny by 135.6% in the fourth quarter. Fred Alger Management LLC now owns 2,372,711 shares of the company’s stock worth $73,910,000 after purchasing an additional 1,365,792 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Progyny by 74.6% during the second quarter. Thrivent Financial for Lutherans now owns 2,171,417 shares of the company’s stock valued at $63,080,000 after buying an additional 927,692 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Progyny by 40.2% in the fourth quarter. Jennison Associates LLC now owns 2,530,967 shares of the company’s stock worth $78,840,000 after buying an additional 725,232 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Progyny by 240.1% during the 4th quarter. Millennium Management LLC now owns 875,136 shares of the company’s stock worth $27,260,000 after acquiring an additional 617,830 shares during the last quarter. 86.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Chairman David J. Schlanger sold 5,824 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $35.26, for a total transaction of $205,354.24. Following the sale, the chairman now directly owns 76,168 shares of the company’s stock, valued at approximately $2,685,683.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Progyny news, Chairman David J. Schlanger sold 5,824 shares of the stock in a transaction on Monday, February 6th. The shares were sold at an average price of $35.26, for a total transaction of $205,354.24. Following the completion of the transaction, the chairman now owns 76,168 shares in the company, valued at $2,685,683.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Anevski sold 2,305 shares of the company’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $35.28, for a total transaction of $81,320.40. Following the sale, the chief executive officer now owns 223,900 shares in the company, valued at $7,899,192. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,766 shares of company stock worth $5,284,643. Corporate insiders own 14.00% of the company’s stock.

Progyny Company Profile

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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.