Progyny (NASDAQ:PGNY) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Progyny (NASDAQ:PGNY) posted its quarterly earnings data on Wednesday. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.21, FiscalAI reports. The company had revenue of $341.25 million during the quarter, compared to analysts’ expectations of $340.76 million. Progyny had a return on equity of 15.98% and a net margin of 6.00%. Progyny’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share.

Here are the key takeaways from Progyny’s conference call:

• Record selling season: Progyny added 1.3 million covered lives and more than 85 clients for 2027, with near-100% retention and about 20% of existing clients expanding their benefits. The company said its pipeline for the next selling season is also its largest ever at this point.
• Raised 2026 guidance: Strong results through the first nine months and healthy member engagement led management to raise the midpoint of full-year revenue and profitability guidance. Excluding revenue from a former client under a transition agreement, the company forecasts full-year revenue growth of 10.1%–11.7%.
• Strong cash generation and buybacks: Progyny reported more than $56 million of operating cash flow in the quarter and $207 million over the trailing 12 months. It repurchased nearly 3 million shares in Q3 and said cumulative repurchases since last November have reduced shares outstanding by nearly 15%.
• Investment and margin considerations: Adjusted EBITDA margin was modestly lower year over year, and the company continues to invest in its platform and growth initiatives. Management expects those investments to taper during 2027 but has not provided a long-term EBITDA margin target.

Progyny Price Performance

Shares of PGNY traded up $4.21 on Thursday, reaching $34.31. 1,871,773 shares of the stock traded hands, compared to its average volume of 1,360,935. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 37.21, a P/E/G ratio of 2.01 and a beta of 0.97. Progyny has a 12 month low of $16.10 and a 12 month high of $35.50. The stock’s 50-day moving average price is $27.11 and its 200-day moving average price is $24.49.

Insider Activity at Progyny

In related news, COO Melissa Cummings sold 1,879 shares of the company’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $28.00, for a total value of $52,612.00. Following the completion of the transaction, the chief operating officer directly owned 66,496 shares in the company, valued at approximately $1,861,888. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Allison Swartz sold 3,903 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $26.10, for a total value of $101,868.30. Following the completion of the transaction, the executive vice president directly owned 75,816 shares of the company’s stock, valued at approximately $1,978,797.60. This trade represents a 4.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 17,282 shares of company stock worth $475,790. 9.90% of the stock is owned by corporate insiders.

Key Progyny News

Here are the key news stories impacting Progyny this week:

• Positive Sentiment: Quarterly results topped expectations: Progyny reported third-quarter earnings of $0.52 per share and revenue of $341.25 million. Revenue rose 8.9% year over year, while earnings increased from $0.15 per share a year earlier. Progyny Q3 results
• Positive Sentiment: Higher earnings outlook: The company raised its 2026 earnings guidance and provided a fourth-quarter outlook, a key catalyst behind the more favorable analyst commentary. Progyny raises 2026 earnings guidance
• Positive Sentiment: Analysts raised price targets: Citizens JMP lifted its target to $38 and maintained a “market outperform” rating; Cantor Fitzgerald raised its target to $35 and kept an “overweight” rating. Both cited the improved outlook. Citizens JMP target increase
• Positive Sentiment: Growth indicators: A Q3 analysis highlighted new client wins and margin expansion, supporting the case for continued business momentum. Q3 analysis

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Zacks Research cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. JPMorgan Chase & Co. raised their price target on shares of Progyny from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Wall Street Zen downgraded shares of Progyny from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Leerink Partners boosted their price objective on shares of Progyny from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Truist Financial upped their price objective on shares of Progyny from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.92.

About Progyny

Progyny, Inc is a benefits-management company focused on fertility and family-building care. The company works with employers to provide comprehensive benefits that help members access fertility treatments and related services through a network of specialized providers.

Its offerings include coverage and support for services such as in vitro fertilization, fertility testing, egg and sperm freezing, donor services, gestational surrogacy, and adoption. Progyny also provides pharmacy benefits through Progyny Rx, as well as personalized guidance intended to help members navigate treatment options, providers, and the broader family-building process.

Progyny primarily serves self-insured employers and their employees in the United States.