Paragon 28 (NYSE:FNA) Announces Earnings Results

Paragon 28 (NYSE:FNA) issued its quarterly earnings results on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01, Briefing.com reports. The business had revenue of $62.30 million for 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 business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) earnings per share. Paragon 28 updated its FY 2024 guidance to EPS.

Paragon 28 Stock Performance

NYSE:FNA traded up $2.71 during midday 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 firm has a fifty day simple moving average of $6.29 and a two-hundred day simple moving average of $7.20. Paragon 28 has a 12-month low of $4.65 and a 12-month high of $14.79. The company has a quick ratio of 1.70, a current ratio of 3.57 and a debt-to-equity ratio of 0.75. The stock has a market cap of $852.94 million, a P/E ratio of -14.55 and a beta of 1.01.

Wall Street Analyst Weigh In

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