2024-03-09 04:30:54 ET
Summary
- Progyny's stock is trailing the S&P 500 thus far in 2024 amongst macro concerns such as the Alabama court ruling on frozen embryos.
- However, Progyny's Q4 2023 revenue grew by 26%, and the company continues to add clients and increase the number of covered lives.
- With no debt and ample cash, the company authorized a share repurchase program up to $100 million.
I first researched Progyny ( PGNY ) in late 2022 and believed the company seemed like an excellent growth play in the healthcare sector. Progyny is a leader in fertility benefits and the company had been continuously growing revenue, increasing the number of individuals covered, and advancing their offerings. Since my first article the stock is up roughly 15%....
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For further details see:
Progyny: Long-Term Thesis Still Intact