Why Shares of Progyny Rose 18.4% This Week
Shares of Progyny (NASDAQ: PGNY) were up 18.4% for the week as of Friday's close, according to data provided by S&P Global Market Intelligence. The stock closed last week at $31.09, then rose to as high as $38.56 on Wednesday. The benefits management company specializes in family-building and fertility solutions. Its 52-week low is $25.67 and its 52-week high is $53.10.
The healthcare company delivered its fourth-quarter and full-year results on Monday, and investors reacted positively both to the report and management's 2023 guidance. Its 2022 revenue rose 57% to $786.9 million, while fourth-quarter revenue rose 66% year over year to $214.3 million.
That growth did come at a cost. Net income fell $53.8% to $30.4 million for the full year, and quarterly revenue slid 77.4%, year over year, to $3.4 million. The company cited increased taxes for the difference.
Source Fool.com
