FY2024 EPS Estimates for Paragon 28 Increased by Analyst

Paragon 28, Inc. (NYSE:FNA - Free Report) - Investment analysts at William Blair increased their FY2024 earnings estimates for shares of Paragon 28 in a research note issued to investors on Tuesday, January 14th. William Blair analyst B. Vazquez now anticipates that the company will post earnings per share of ($0.64) for the year, up from their previous forecast of ($0.66). The consensus estimate for Paragon 28's current full-year earnings is ($0.66) per share. William Blair also issued estimates for Paragon 28's FY2025 earnings at ($0.55) EPS.

Paragon 28 (NYSE:FNA - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. The business had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. Paragon 28's revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) earnings per share.

A number of other equities analysts have also weighed in on FNA. Stephens upgraded shares of Paragon 28 to a "strong-buy" rating in a research report on Monday, December 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Paragon 28 in a report on Monday. Finally, Canaccord Genuity Group reduced 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 note on Wednesday, November 13th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $15.60.

Paragon 28 Stock Performance

Shares of FNA stock traded up $0.19 on Friday, hitting $10.85. 707,932 shares of the stock were exchanged, compared to its average volume of 586,794. Paragon 28 has a one year low of $4.65 and a one year high of $14.79. The firm's 50 day moving average is $10.18 and its two-hundred day moving average is $8.10. The firm has a market capitalization of $908.61 million, a PE ratio of -14.67 and a beta of 1.50. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in Paragon 28 during the third quarter valued at $70,000. Ballentine Partners LLC purchased a new stake in shares of Paragon 28 in the 3rd quarter valued at about $91,000. Creative Planning bought a new stake in shares of Paragon 28 during the 3rd quarter valued at about $91,000. Hsbc Holdings PLC purchased a new position in shares of Paragon 28 during the second quarter worth about $104,000. Finally, Commerce Bank increased its position in shares of Paragon 28 by 28.5% in the third quarter. Commerce Bank now owns 18,350 shares of the company's stock worth $123,000 after purchasing an additional 4,075 shares during the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 72,133 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $10.16, for a total transaction of $732,871.28. Following the sale, the insider now owns 10,559,065 shares of the company's stock, valued at approximately $107,280,100.40. This represents a 0.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 252,914 shares of company stock valued at $2,585,514. 15.32% of the stock is currently owned by corporate insiders.

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.