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

Paragon 28 (NYSE:FNA) issued its quarterly earnings data on Tuesday. The company reported ($0.15) 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 analyst estimates of $60.58 million. Paragon 28 had a negative return on equity of 36.84% 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 quarter in the previous year, the company posted ($0.10) earnings per share. Paragon 28 updated its FY 2024 guidance to EPS.

Paragon 28 Stock Performance

NYSE FNA opened at $10.30 on Thursday. 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 business has a 50-day moving average price of $6.28 and a 200-day moving average price of $7.19. Paragon 28 has a twelve month low of $4.65 and a twelve month high of $14.79.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FNA shares. Piper Sandler reiterated an “overweight” rating and set a $12.00 target price (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Canaccord Genuity Group lowered their target price on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC lifted their target price on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Paragon 28 currently has an average rating of “Buy” and a consensus target price 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.