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

Paragon 28 (NYSE:FNA) announced its earnings results on Tuesday. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $60.58 million. During the same quarter in the previous year, the company posted ($0.10) EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. Paragon 28 updated its FY 2024 guidance to EPS.

Paragon 28 Trading Down 5.8 %

NYSE:FNA opened at $9.70 on Friday. Paragon 28 has a fifty-two week low of $4.65 and a fifty-two week high of $14.79. The firm’s 50 day moving average is $6.32 and its two-hundred day moving average is $7.22. The company has a quick ratio of 1.70, a current ratio of 3.50 and a debt-to-equity ratio of 0.79.

Analysts Set New Price Targets

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