Paragon 28 (NYSE:FNA) Announces Quarterly Earnings Results, Hits Expectations

Paragon 28 (NYSE:FNA) issued its earnings results on Thursday. The company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17), Briefing.com reports. The company had revenue of $61.02 million during the quarter, compared to the consensus estimate of $60.08 million. Paragon 28 had a negative return on equity of 27.72% and a negative net margin of 24.45%. Paragon 28’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) earnings per share. Paragon 28 updated its FY 2024 guidance to EPS.

Paragon 28 Stock Performance

FNA stock traded down $1.67 on Friday, reaching $6.64. The company’s stock had a trading volume of 2,044,191 shares, compared to its average volume of 646,397. Paragon 28 has a 52 week low of $5.55 and a 52 week high of $15.37. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.57 and a quick ratio of 1.78. The company has a market capitalization of $550.79 million, a P/E ratio of -10.22 and a beta of 0.99. The firm has a fifty day moving average of $7.20 and a two-hundred day moving average of $9.49.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FNA. JMP Securities reduced their price objective on Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating for the company in a research report on Thursday, May 9th. Piper Sandler reiterated an “overweight” rating and issued a $12.00 target price (down from $15.00) on shares of Paragon 28 in a research note on Friday. Finally, Needham & Company LLC lowered their price target on shares of Paragon 28 from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Paragon 28 presently has a consensus rating of “Buy” and a consensus price target of $15.25.

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.