Progyny (NASDAQ:PGNY – Get Rating) issued an update on its third quarter 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $0.02-$0.03 for the period, compared to the consensus EPS estimate of $0.06. The company issued revenue guidance of $190.00 million-$197.00 million, compared to the consensus revenue estimate of $192.00 million. Progyny also updated its FY 2022 guidance to $0.14-$0.19 EPS.
Progyny Stock Performance
NASDAQ PGNY traded up $11.38 on Friday, hitting $41.15. 3,469,925 shares of the stock were exchanged, compared to its average volume of 684,594. The firm has a market capitalization of $3.78 billion, a P/E ratio of 89.46, a P/E/G ratio of 21.71 and a beta of 1.85. The stock has a fifty day moving average price of $30.23 and a two-hundred day moving average price of $37.32. Progyny has a 52-week low of $25.67 and a 52-week high of $68.32.
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Progyny (NASDAQ:PGNY – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.04. Progyny had a net margin of 7.39% and a return on equity of 18.11%. The business had revenue of $195.00 million during the quarter, compared to analyst estimates of $190.51 million. During the same period last year, the business earned $0.19 EPS. Progyny's revenue was up 51.5% compared to the same quarter last year. Sell-side analysts expect that Progyny will post 0.17 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Norman Payson sold 6,618 shares of the firm's stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $33.45, for a total value of $221,372.10. Following the completion of the sale, the director now directly owns 490,828 shares in the company, valued at approximately $16,418,196.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman David J. Schlanger sold 1,452 shares of the company's stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $31.21, for a total transaction of $45,316.92. Following the completion of the transaction, the chairman now owns 82,548 shares in the company, valued at approximately $2,576,323.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Norman Payson sold 6,618 shares of Progyny stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $33.45, for a total transaction of $221,372.10. Following the completion of the transaction, the director now directly owns 490,828 shares in the company, valued at $16,418,196.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,240 shares of company stock worth $1,291,601. 14.00% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Yousif Capital Management LLC boosted its stake in Progyny by 1.1% during the first quarter. Yousif Capital Management LLC now owns 37,264 shares of the company's stock valued at $1,915,000 after buying an additional 392 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of Progyny by 25.0% during the first quarter. Captrust Financial Advisors now owns 2,091 shares of the company's stock valued at $107,000 after purchasing an additional 418 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Progyny by 6.4% in the 1st quarter. Prudential Financial Inc. now owns 10,603 shares of the company's stock worth $545,000 after purchasing an additional 637 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Progyny during the first quarter worth about $62,000. Finally, Parkside Financial Bank & Trust acquired a new stake in Progyny during the first quarter valued at approximately $70,000. 82.51% of the stock is owned by hedge funds and other institutional investors.
About Progyny
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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.
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