Progyny PGNY shares rallied 6.3% in the last trading session to close at $27.55. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.6% loss over the past four weeks.
Progyny scored a strong price increase on investors’ optimism following key insights from its current annual selling season. Based on commitments received to date and anticipated remaining decisions, the company expects launches through the first half of 2027 to add 1.2 million new covered lives.
This provider of fertility and family building benefits is expected to post quarterly earnings of $0.51 per share in its upcoming report, which represents a year-over-year change of +13.3%. Revenues are expected to be $339.72 million, up 8.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Progyny, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PGNY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Progyny belongs to the Zacks Medical Services industry. Another stock from the same industry, Avantor, Inc. AVTR, closed the last trading session 0.5% lower at $15.35. Over the past month, AVTR has returned 1.2%.
For Avantor, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.21. This represents a change of -4.6% from what the company reported a year ago. Avantor currently has a Zacks Rank of #2 (Buy).
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This article originally published on Zacks Investment Research (zacks.com).