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Investing.com - Progyny (NASDAQ:PGNY) stock rose after BofA Securities maintained its Buy rating and $30.00 price target on the fertility benefits management company. According to InvestingPro data, the company maintains a "GREAT" financial health score and appears undervalued based on its Fair Value analysis.
BofA’s decision follows Progyny’s announcement that it expects second-quarter financial results to exceed the guidance provided in May, driven by favorable member activity. The company now anticipates revenue, adjusted net income, and adjusted EBITDA to be slightly above its previously stated ranges. This aligns with InvestingPro data showing strong fundamentals, with the company holding more cash than debt and maintaining a healthy current ratio of 2.39.
For reference, Progyny’s earlier second-quarter guidance projected revenue between $310.0 million and $325.0 million, compared to consensus estimates of $315.7 million. The company had also forecast EBITDA of $49.0-$53.0 million against consensus estimates of $51.9 million.
Progyny also secured a new $200 million revolving credit facility with a maturity date of July 1, 2030. According to the company’s press release, the revolver is currently undrawn, and Progyny has no immediate plans for its use.
The fertility benefits manager continues to show momentum in its core business, with member activity driving better-than-expected performance for the quarter. With trailing twelve-month revenue of $1.21 billion and strong liquidity metrics, Progyny shows promising growth potential. Discover more insights and 10+ additional ProTips with InvestingPro’s comprehensive research report.
In other recent news, Progyny announced that its second-quarter financial results are expected to exceed previously provided guidance, indicating a favorable outlook for earnings and revenue. The company has secured a $200 million revolving credit facility, maturing in 2030, which remains undrawn and is intended to enhance operational and financial flexibility. BTIG has reiterated its Buy rating for Progyny, citing positive momentum in the company’s business operations and maintaining a price target of $30.00. Additionally, Progyny is expanding its women’s health services by introducing pelvic floor therapy, partnering with Origin and Hinge Health to provide both in-person and virtual care options.
The company also appointed Elizabeth Bierbower to its Board of Directors, highlighting her extensive leadership experience in the healthcare sector. At the 2025 Annual Meeting of Stockholders, shareholders elected Class III directors, including Bierbower, and ratified Ernst & Young LLP as the independent registered public accounting firm. However, the shareholders did not approve the compensation package for the company’s named executive officers. These developments reflect Progyny’s ongoing efforts to strengthen its market position and governance structure.
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