Paragon 28 (NYSE:FNA) Releases Earnings Results, Beats Expectations By $0.01 EPS

Paragon 28 (NYSE:FNA) issued its quarterly earnings results on Tuesday. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01, Briefing.com reports. Paragon 28 had a negative return on equity of 36.84% and a negative net margin of 25.31%. The firm had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $60.58 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. Paragon 28 updated its FY 2024 guidance to EPS.

Paragon 28 Price Performance

FNA traded down $0.60 during trading on Thursday, hitting $9.70. 1,618,483 shares of the stock traded hands, compared to its average volume of 608,980. The business has a 50 day moving average price of $6.32 and a 200 day moving average price of $7.22. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.57 and a quick ratio of 1.70. Paragon 28 has a twelve month low of $4.65 and a twelve month high of $14.79. The company has a market cap of $810.34 million, a price-to-earnings ratio of -14.36 and a beta of 1.01.

Analyst Upgrades and Downgrades

FNA has been the topic of several recent analyst reports. Canaccord Genuity Group lowered their price objective on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. Needham & Company LLC upped their price objective on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and set a $12.00 target price (down previously from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price 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.