William Blair Predicts Stronger Earnings for Paragon 28

Paragon 28, Inc. (NYSE:FNA) – Research analysts at William Blair upped their FY2024 EPS estimates for shares of 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 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.

Several other analysts have also recently issued reports on FNA. Canaccord Genuity Group dropped their price objective on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Needham & Company LLC increased 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. Finally, Piper Sandler reissued an “overweight” rating and set a $12.00 price objective (down previously from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Price Performance

Shares of NYSE FNA opened at $10.01 on Monday. The firm has a 50-day simple moving average of $6.43 and a 200-day simple moving average of $7.23. The company has a quick ratio of 1.70, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $838.04 million, a price-to-earnings ratio of -13.53 and a beta of 1.01. Paragon 28 has a 52 week low of $4.65 and a 52 week high of $14.79.

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

Institutional Trading of Paragon 28

A number of hedge funds and other institutional investors have recently made changes to their positions in FNA. Swiss National Bank lifted its holdings in Paragon 28 by 12.7% in the first quarter. Swiss National Bank now owns 73,400 shares of the company’s stock valued at $906,000 after acquiring 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 1st 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 period. Price T Rowe Associates Inc. MD increased its position in shares of Paragon 28 by 16.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock worth $156,000 after purchasing an additional 1,766 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Paragon 28 by 29.5% in the 1st 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 period. Finally, Nisa Investment Advisors LLC raised its holdings in Paragon 28 by 46,660.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $32,000 after buying an additional 4,666 shares during the period. Institutional investors and hedge funds 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.