William Blair Forecasts Stronger Earnings for Paragon 28

Paragon 28, Inc. (NYSE:FNA) – Equities research analysts at William Blair lifted their FY2024 earnings per share (EPS) estimates for shares of Paragon 28 in a research note issued to investors on Wednesday, November 13th. William Blair analyst B. Vazquez now expects that the company will earn ($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 announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, topping 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 company had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $60.58 million. During the same quarter in the previous year, the business posted ($0.10) earnings per share. Paragon 28’s quarterly revenue was up 18.0% on a year-over-year basis.

FNA has been the subject of several other research reports. Piper Sandler reiterated an “overweight” rating and issued a $12.00 price target (down previously from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Canaccord Genuity Group cut 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, November 13th. Finally, Needham & Company LLC raised their price target on Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $15.60.

Paragon 28 Stock Performance

Paragon 28 stock opened at $10.50 on Monday. The company’s 50-day moving average price is $6.48 and its 200-day moving average price is $7.21. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. The company has a market cap of $879.06 million, a PE ratio of -14.19 and a beta of 1.01. Paragon 28 has a twelve month low of $4.65 and a twelve month high of $14.79.

Institutional Investors Weigh In On Paragon 28

A number of institutional investors and hedge funds have recently modified their holdings of FNA. First Light Asset Management LLC grew its position in Paragon 28 by 115.0% in the 2nd quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock valued at $55,916,000 after acquiring an additional 4,371,864 shares during the last quarter. Vanguard Group Inc. lifted its position 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 purchasing an additional 55,851 shares during the last quarter. State Street Corp boosted its stake 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 purchasing an additional 39,075 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Paragon 28 by 29.5% in the first quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock worth $14,818,000 after purchasing an additional 273,077 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Paragon 28 by 15.4% in the 2nd 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 during the period. 63.57% of the stock is 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.