Paragon 28 (NYSE:FNA) Issues Earnings Results

Paragon 28 (NYSE:FNA) posted its quarterly earnings data on Tuesday. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01, Briefing.com reports. The company had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $60.58 million. Paragon 28 had a negative net margin of 24.64% and a negative return on equity of 32.39%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) earnings per share. Paragon 28 updated its FY 2024 guidance to EPS.

Paragon 28 Trading Up 36.1 %

Shares of FNA traded up $2.71 during mid-day trading on Wednesday, reaching $10.21. The stock had a trading volume of 659,775 shares, compared to its average volume of 593,026. The business’s fifty day moving average is $6.29 and its 200 day moving average is $7.20. Paragon 28 has a 52-week low of $4.65 and a 52-week high of $14.79. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.57 and a quick ratio of 1.70. The firm has a market cap of $852.94 million, a price-to-earnings ratio of -14.55 and a beta of 1.01.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FNA shares. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 target price (down previously from $15.00) on shares of Paragon 28 in a report on Friday, August 9th. Canaccord Genuity Group dropped their target price on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Needham & Company LLC upped their target price on shares of Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $15.60.

Paragon 28 Company Profile

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.