FY2024 EPS Estimates for Paragon 28 Lifted by William Blair

Paragon 28, Inc. (NYSE:FNA) – Equities research analysts at William Blair boosted their FY2024 EPS estimates for Paragon 28 in a report issued on Wednesday, November 13th. William Blair analyst B. Vazquez now forecasts that the company will post earnings of ($0.66) per share for the year, up from their previous forecast 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) last released its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) EPS.

Other equities analysts also recently issued reports about the company. Needham & Company LLC raised their price target on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Piper Sandler restated an “overweight” rating and set a $12.00 price objective (down from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Finally, Canaccord Genuity Group dropped their target price on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Price Performance

Shares of FNA opened at $10.50 on Monday. 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 simple moving average is $6.48 and its two-hundred day simple moving average is $7.21. The stock has a market cap of $879.06 million, a PE ratio of -14.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50.

Hedge Funds Weigh In On Paragon 28

A number of hedge funds have recently modified their holdings of FNA. First Light Asset Management LLC grew its position in shares of Paragon 28 by 115.0% during the second quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock worth $55,916,000 after purchasing an additional 4,371,864 shares in the last quarter. Vanguard Group Inc. grew its holdings in Paragon 28 by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company’s stock valued at $26,012,000 after buying an additional 55,851 shares in the last quarter. State Street Corp raised its position in shares of Paragon 28 by 2.6% during the third quarter. State Street Corp now owns 1,563,331 shares of the company’s stock valued at $10,443,000 after buying an additional 39,075 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Paragon 28 by 29.5% during the first quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock valued at $14,818,000 after buying an additional 273,077 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Paragon 28 by 15.4% in the second quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock worth $6,986,000 after buying an additional 135,911 shares in the last quarter. 63.57% of the stock is currently owned by institutional investors.

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.