PROGYNY INC. DL -,001

Progyny reported at the growth conference a persistently high customer retention rate of 99% and early contract renewals, despite utilization falling more sharply than usual in July and August. Management expects demand to return in September to first-half levels and remains committed to the target of gaining 1 million insured individuals annually. With Progyny Select, the company expands its addressable market volume from 105 million to 155 million and is expanding partnerships with health insurers (including Cigna) as well as extended family and women’s health products. Progyny continues to cite medical cost inflation and seasonal fluctuations as structural risks, but views scale effects and transparent evidence of savings as supports for profitability. » More on de.investing.com

Progyny reported record results in the second quarter with adjusted EPS of $0.55 and revenue of $350.51 million, both slightly above analysts' estimates; gross margin and adjusted EBITDA also reached record levels. Management warned of a more pronounced summer seasonal slowdown in Q3 but reaffirmed full-year revenue and adjusted EPS targets. Despite strong operational metrics, the stock fell sharply after-hours as investors weighed the near-term outlook more heavily than the quarterly results. » More on de.investing.com

Progyny shares rose to a 52-week high of 31.07 USD, reflecting a market capitalization of 2.43 billion USD. Over the past year the stock gained 44.2%, and an InvestingPro analysis currently rates the stock as undervalued with further upside potential. For the first quarter Progyny reported adjusted earnings per share of 0.50 USD on record revenue of 328.5 million USD (up 1.4% year-on-year; organically +12.2% excluding a large customer). The board approved a 200 million USD share buyback program, and several analysts raised price targets or ratings. » More on de.investing.com