Progyny (NASDAQ:PGNY) Announces Quarterly Earnings Results, Misses Estimates By $0.24 EPS

Progyny (NASDAQ:PGNY) released its quarterly earnings data on Thursday. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.24), Zacks reports. The firm had revenue of $313.35 million for the quarter, compared to analysts’ expectations of $299.23 million. Progyny had a return on equity of 11.23% and a net margin of 4.46%.The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. Progyny updated its FY 2025 guidance to 1.790-1.820 EPS and its Q4 2025 guidance to 0.370-0.400 EPS.

Progyny Stock Performance

NASDAQ:PGNY traded up $4.36 during mid-day trading on Friday, hitting $22.37. 4,589,860 shares of the company’s stock traded hands, compared to its average volume of 1,669,160. The company has a market capitalization of $1.92 billion, a P/E ratio of 35.51, a P/E/G ratio of 1.53 and a beta of 1.29. The company has a fifty day moving average of $20.91 and a 200 day moving average of $21.85. Progyny has a twelve month low of $13.39 and a twelve month high of $26.76.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Raymond James Financial set a $28.00 price target on Progyny in a research note on Friday, August 8th. Truist Financial increased their target price on shares of Progyny from $24.00 to $27.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 price target (up previously from $26.00) on shares of Progyny in a report on Friday, August 8th. JPMorgan Chase & Co. upped their price target on shares of Progyny from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 26th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Progyny in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Progyny presently has a consensus rating of “Moderate Buy” and an average price target of $25.44.

Insider Activity

In other news, Director Kevin K. Gordon sold 2,500 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.04, for a total transaction of $55,100.00. Following the transaction, the director owned 12,501 shares in the company, valued at $275,522.04. This represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Allison Swartz sold 2,398 shares of Progyny stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $22.96, for a total transaction of $55,058.08. Following the completion of the sale, the executive vice president owned 79,697 shares of the company’s stock, valued at $1,829,843.12. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 7,895 shares of company stock worth $179,311. Corporate insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Progyny

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in Progyny by 384.8% in the 1st quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock worth $291,000 after acquiring an additional 10,340 shares during the last quarter. Amundi increased its holdings in shares of Progyny by 103.8% in the first quarter. Amundi now owns 11,419 shares of the company’s stock valued at $264,000 after purchasing an additional 5,817 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Progyny by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company’s stock worth $5,630,000 after purchasing an additional 14,297 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Progyny by 37.4% during the second quarter. Invesco Ltd. now owns 379,189 shares of the company’s stock worth $8,342,000 after purchasing an additional 103,253 shares during the period. Finally, Walleye Capital LLC boosted its position in Progyny by 6.9% in the second quarter. Walleye Capital LLC now owns 12,080 shares of the company’s stock valued at $266,000 after buying an additional 780 shares during the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

About Progyny

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.