Analysts Issue Forecasts for Paragon 28 FY2024 Earnings

Paragon 28, Inc. (NYSE:FNA) – Investment analysts at William Blair lifted their FY2024 earnings per share estimates for shares of Paragon 28 in a research note issued to investors on Wednesday, November 13th. William Blair analyst B. Vazquez now expects that the company will earn ($0.66) per share for the year, up from their prior estimate of ($0.70). The consensus estimate for Paragon 28’s current full-year earnings is ($0.66) per share. William Blair also issued estimates for Paragon 28’s FY2025 earnings at ($0.48) EPS.

Paragon 28 (NYSE:FNA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The firm had revenue of $62.30 million for the quarter, compared to analyst estimates of $60.58 million. During the same period last year, the firm posted ($0.10) earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis.

A number of other analysts also recently weighed in on the company. Needham & Company LLC increased their price objective on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Piper Sandler restated an “overweight” rating and set a $12.00 price objective (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Finally, Canaccord Genuity Group cut their price objective on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Paragon 28 has a consensus rating of “Buy” and an average price target of $15.60.

Paragon 28 Price Performance

FNA stock opened at $10.21 on Monday. The company has a market capitalization of $854.36 million, a P/E ratio of -13.78 and a beta of 1.01. The company has a fifty day moving average price of $6.43 and a 200-day moving average price of $7.21. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.70 and a current ratio of 3.50. Paragon 28 has a 52-week low of $4.65 and a 52-week high of $14.79.

Institutional Investors Weigh In On Paragon 28

Large investors have recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in shares of Paragon 28 by 12.7% during the 1st quarter. Swiss National Bank now owns 73,400 shares of the company’s stock worth $906,000 after buying an additional 8,300 shares in the last quarter. Vanguard Group Inc. boosted its stake in Paragon 28 by 2.7% during the first quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company’s stock worth $26,012,000 after acquiring an additional 55,851 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Paragon 28 by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock worth $156,000 after purchasing an additional 1,766 shares during the period. Janus Henderson Group PLC increased its stake in Paragon 28 by 29.5% in the first quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock valued at $14,818,000 after purchasing an additional 273,077 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Paragon 28 by 46,660.0% during the second quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $32,000 after purchasing an additional 4,666 shares during the period. Institutional investors and hedge funds own 63.57% of the company’s stock.

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.