Paragon 28 FY2024 EPS Forecast Boosted by William Blair

Paragon 28, Inc. (NYSE:FNA) – Equities researchers at William Blair increased their FY2024 earnings per share estimates for shares of Paragon 28 in a note issued to investors on Tuesday, January 14th. William Blair analyst B. Vazquez now expects that the company will post earnings of ($0.64) per share 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) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The firm had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. During the same period last year, the firm posted ($0.10) EPS. Paragon 28’s revenue was up 18.0% on a year-over-year basis.

Other research analysts have also issued reports about the company. Canaccord Genuity Group lowered their price objective on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Stephens upgraded Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective on shares of Paragon 28 in a report on Monday, January 13th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Stock Performance

Shares of FNA stock opened at $10.85 on Friday. Paragon 28 has a 1 year low of $4.65 and a 1 year high of $14.79. The firm has a market capitalization of $908.61 million, a price-to-earnings ratio of -14.67 and a beta of 1.50. The business has a fifty day moving average of $10.18 and a 200 day moving average of $8.12. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60.

Insider Activity at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 147,581 shares of Paragon 28 stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $10.28, for a total transaction of $1,517,132.68. Following the sale, the insider now directly owns 10,738,564 shares in the company, valued at $110,392,437.92. This trade represents a 1.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 252,914 shares of company stock valued at $2,585,514 over the last 90 days. 15.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paragon 28

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new position in Paragon 28 during the third quarter worth about $70,000. Ballentine Partners LLC acquired a new stake in shares of Paragon 28 in the 3rd quarter valued at approximately $91,000. Creative Planning acquired a new position in shares of Paragon 28 during the 3rd quarter worth $91,000. Hsbc Holdings PLC purchased a new stake in shares of Paragon 28 in the second quarter valued at about $104,000. Finally, Commerce Bank raised its holdings 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 acquiring an additional 4,075 shares during the last quarter. Hedge funds and other institutional investors own 63.57% of the company’s stock.

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.