FY2024 EPS Estimates for Progyny Lifted by Leerink Partnrs

Progyny, Inc. (NASDAQ:PGNY) – Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for shares of Progyny in a report issued on Monday, January 13th. Leerink Partnrs analyst M. Cherny now expects that the company will post earnings of $0.53 per share for the year, up from their previous estimate of $0.51. The consensus estimate for Progyny’s current full-year earnings is $0.59 per share. Leerink Partnrs also issued estimates for Progyny’s Q4 2024 earnings at $0.10 EPS and FY2025 earnings at $0.62 EPS.

Progyny (NASDAQ:PGNY) last released its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The firm had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. During the same quarter last year, the business earned $0.16 EPS. The business’s revenue was up 2.0% compared to the same quarter last year.

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $17.00 target price (down from $22.00) on shares of Progyny in a research report on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of Progyny in a report on Tuesday, October 1st. Canaccord Genuity Group decreased their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Bank of America dropped their price target on Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, JMP Securities downgraded Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Progyny has a consensus rating of “Hold” and a consensus target price of $25.00.

Progyny Stock Performance

Shares of PGNY stock opened at $20.04 on Wednesday. Progyny has a fifty-two week low of $13.39 and a fifty-two week high of $42.08. The stock’s fifty day moving average is $15.75 and its two-hundred day moving average is $19.74. The firm has a market capitalization of $1.71 billion, a P/E ratio of 34.55, a PEG ratio of 1.64 and a beta of 1.31.

Insider Activity at Progyny

In other Progyny news, CEO Peter Anevski acquired 209,500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the transaction, the chief executive officer now owns 441,463 shares of the company’s stock, valued at $6,392,384.24. This trade represents a 90.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman David J. Schlanger bought 150,000 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was bought at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the transaction, the chairman now directly owns 228,269 shares of the company’s stock, valued at $3,350,988.92. The trade was a 191.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Progyny

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP boosted its position in shares of Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after purchasing an additional 836 shares during the period. GAMMA Investing LLC lifted its stake in Progyny by 341.4% during the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after purchasing an additional 1,246 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Progyny during the second quarter worth $44,000. Mendota Financial Group LLC purchased a new position in shares of Progyny during the third quarter worth $56,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Progyny in the third quarter valued at $77,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions 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.