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

Paragon 28 (NYSE:FNA) announced its quarterly earnings results 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 net margin of 25.31% and a negative return on equity of 37.90%. 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 company earned ($0.10) EPS. The firm’s revenue was up 18.0% on a year-over-year basis. Paragon 28 updated its FY 2024 guidance to EPS.

Paragon 28 Stock Performance

Shares of Paragon 28 stock opened at $9.70 on Friday. Paragon 28 has a 1 year low of $4.65 and a 1 year high of $14.79. The firm’s 50-day simple moving average is $6.32 and its 200-day simple moving average is $7.22. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.70 and a current ratio of 3.50.

Analysts Set New Price Targets

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