Paragon 28 (NYSE:FNA) Posts Earnings Results, Beats Estimates By $0.01 EPS

Paragon 28 (NYSE:FNA) released 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. 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 analyst estimates of $60.58 million. During the same quarter in the prior year, the company 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 Stock Up 37.3 %

Shares of FNA stock opened at $10.30 on Thursday. Paragon 28 has a 1 year low of $4.65 and a 1 year high of $14.79. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.70 and a current ratio of 3.57. The stock’s 50 day simple moving average is $6.28 and its two-hundred day simple moving average is $7.19.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and set a $12.00 price target (down from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Needham & Company LLC increased their price target on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity Group dropped their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Paragon 28 has a consensus 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.