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

Paragon 28 (NYSE:FNA - Get Free Report) issued its earnings results on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.01, Briefing.com reports. Paragon 28 had a negative return on equity of 36.84% and a negative net margin of 25.31%. The business had revenue of $62.30 million during the quarter, compared to analysts' expectations of $60.58 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The company'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 Up 37.3 %

Shares of Paragon 28 stock traded up $2.80 during trading hours on Wednesday, hitting $10.30. 2,822,123 shares of the company's stock traded hands, compared to its average volume of 604,391. Paragon 28 has a twelve month low of $4.65 and a twelve month high of $14.79. The company has a quick ratio of 1.70, a current ratio of 3.57 and a debt-to-equity ratio of 0.75. The stock has a 50 day simple moving average of $6.28 and a 200-day simple moving average of $7.19.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Needham & Company LLC upped their price target on shares of Paragon 28 from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday. Canaccord Genuity Group decreased their target price on Paragon 28 from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Piper Sandler reiterated an "overweight" rating and set a $12.00 target price (down from $15.00) on shares of Paragon 28 in a report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently 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.