Paragon 28 (NYSE:FNA) Issues Earnings Results

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

Paragon 28 Stock Up 36.3 %

Shares of Paragon 28 stock traded up $2.72 on Wednesday, hitting $10.22. The company had a trading volume of 319,468 shares, compared to its average volume of 593,011. The firm has a market capitalization of $853.78 million, a P/E ratio of -14.81 and a beta of 1.01. Paragon 28 has a twelve month low of $4.65 and a twelve month high of $14.79. The stock has a 50-day moving average of $6.29 and a 200-day moving average of $7.20. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.57 and a quick ratio of 1.70.

Wall Street Analyst Weigh In

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

About Paragon 28

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.