Long Position on PGNY @ $60.00 on 9/16/2021 (Fundamentals)

Progyny, Inc. (PGNY), 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.

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 reimbursement programs for employers.

The company was formerly known as Auxogyn, Inc. and changed its name to Progyny, Inc. in 2015.

Progyny, Inc. was incorporated in 2008 and is headquartered in New York, New York.

Progyny, Inc. reported 2nd Quarter June 2021 earnings of $0.19 per share on revenue of $128.7 million. The consensus earnings estimate was $0.09 per share on revenue of $129.3 million. Revenue grew 99.1% on a year-over-year basis.

The company said it expects third quarter earnings of $0.03 to $0.07 per share on revenue of $121.0 million to $130.0 million. The current consensus earnings estimate is $0.11 per share on revenue of $141.29 million for the quarter ending September 30, 2021. The company said it expects 2021 earnings of $0.43 to $0.50 per share on revenue of $510.0 million to $530.0 million. The company's previous guidance was earnings of $0.33 to $0.41 per share on revenue of $520.0 million to $540.0 million and the current consensus earnings estimate is $0.40 per share on revenue of $537.21 million for the year ending December 31, 2021.

Gaining by over 42% year-to-date, this stock should be reaching it's buy point as it moves out of it's "bullish cup and handle" formation.

Entry Point: $60.00

Trading Range: $23.56 - $66.61

Stop Loss: $57.00

Target Price: $66.00

Position closed on 10/20/2021 at price of $58.80 with a -2.00% loss in 34 days.

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