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

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

Paragon 28 Stock Performance

Shares of FNA stock traded down $0.32 during mid-day trading on Thursday, hitting $9.98. The stock had a trading volume of 249,012 shares, compared to its average volume of 602,350. Paragon 28 has a fifty-two week low of $4.65 and a fifty-two week high of $14.79. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.57 and a quick ratio of 1.70. The firm has a market cap of $833.73 million, a PE ratio of -14.36 and a beta of 1.01. The company’s 50-day simple moving average is $6.32 and its 200-day simple moving average is $7.22.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FNA. Canaccord Genuity Group lowered their price target on 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 boosted their price target on shares of Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a research note 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 note on Friday, August 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $15.60.

About Paragon 28

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.