William Blair Brokers Lift Earnings Estimates for Paragon 28

Paragon 28, Inc. (NYSE:FNA - Free Report) - Equities researchers at William Blair lifted their FY2024 earnings per share (EPS) estimates for Paragon 28 in a note issued to investors on Wednesday, November 13th. William Blair analyst B. Vazquez now forecasts that the company will earn ($0.66) per share for the year, up from their prior estimate of ($0.70). 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 ($0.48) EPS.

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

Other analysts have also recently issued reports about the company. Needham & Company LLC increased their price objective on Paragon 28 from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Canaccord Genuity Group reduced their price objective on Paragon 28 from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Finally, Piper Sandler reissued an "overweight" rating and issued a $12.00 target price (down previously 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, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $15.60.

Paragon 28 Trading Up 1.9 %

NYSE:FNA traded up $0.20 during trading hours on Monday, reaching $10.21. 553,462 shares of the stock were exchanged, compared to its average volume of 609,506. The company has a market capitalization of $854.36 million, a price-to-earnings ratio of -13.78 and a beta of 1.01. The company has a quick ratio of 1.70, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. Paragon 28 has a twelve month low of $4.65 and a twelve month high of $14.79. The business has a 50-day moving average of $6.43 and a two-hundred day moving average of $7.21.

Hedge Funds Weigh In On Paragon 28

Hedge funds have recently made changes to their positions in the company. Swiss National Bank grew its holdings in shares of Paragon 28 by 12.7% during the first quarter. Swiss National Bank now owns 73,400 shares of the company's stock worth $906,000 after buying an additional 8,300 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Paragon 28 by 2.7% during the first quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company's stock worth $26,012,000 after buying an additional 55,851 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Paragon 28 by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company's stock valued at $156,000 after purchasing an additional 1,766 shares during the period. Janus Henderson Group PLC lifted its position in Paragon 28 by 29.5% in the first quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company's stock valued at $14,818,000 after purchasing an additional 273,077 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in Paragon 28 by 46,660.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company's stock valued at $32,000 after purchasing an additional 4,666 shares during the period. Hedge funds and other institutional investors own 63.57% of the company's stock.

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.