Long Position on PGNY @ $31.00 on 1/16/2020 (Momentum)

Progyny, Inc. (PGNY) is a benefits management company.

The firm 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.

The company also offers Progyny Rx, an integrated pharmacy benefits solution that provides its members with access to the medications needed during their treatment. In addition, it provides surrogacy and adoption expenses for clients and their employees. 

Shares of this recent IPO have formed a bullish "cup and handle" and are expected to move higher from this formation. The company reported its earnings on December 4th. The Company reported 3rd Quarter September 2019 earnings of $0.03 per share on revenue of $61.2 million. The consensus earnings estimate was $0.02 per share.

The company said it expects fourth quarter earnings of approximately $0.01 per share on revenue of $65.0 million to $66.5 million. The current consensus earnings estimate is $0.01 per share on revenue of $65.9 million for the quarter ending December 31, 2019.

Entry Point: $31.00

Trading Range: $13.29 to $35.43

Stop Loss: $29.40

Target Price: $34.10

Updates

2/12/2020 3:43:54 PM

PGNY closed at $34.25

Position closed on 2/12/2020 at price of $34.25 with a 10.48% gain in 27 days.

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