Why Progyny Stock Dropped Today

Progyny's second-quarter earnings weren't what the market wanted, but there's no reason to panic just yet. Shares of leading fertility benefits specialist Progyny (PGNY -20.51%) dropped 19% as of 1 p.m. EDT on Wednesday, according to data provided by S&P Global Market Intelligence. While Progyny beat analysts' expectations for $0.40 in adjusted earnings per share (EPS) by$0.03, its revenue of $304 million was ever-so-slightly below the consensus of$305 for the second quarter. However, what really seemed t ...