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

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

Paragon 28 Stock Performance

Shares of FNA traded down $0.60 on Thursday, reaching $9.70. 1,618,483 shares of the stock traded hands, compared to its average volume of 608,980. The firm has a market cap of $810.34 million, a price-to-earnings ratio of -14.36 and a beta of 1.01. Paragon 28 has a 12 month low of $4.65 and a 12 month high of $14.79. The stock’s 50-day moving average price is $6.32 and its 200-day moving average price is $7.22. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.57 and a quick ratio of 1.70.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FNA. Canaccord Genuity Group decreased their price target on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $12.00 price target (down previously from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Finally, Needham & Company LLC boosted their price objective on Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company 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.