FY2024 EPS Estimates for Paragon 28 Raised by William Blair

Paragon 28, Inc. (NYSE:FNA) – Equities researchers at William Blair boosted their FY2024 earnings per share (EPS) estimates for Paragon 28 in a research report issued 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.

A number of other equities analysts have also recently weighed in on FNA. Stephens raised Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. 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. Finally, Canaccord Genuity Group reduced their target price on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Paragon 28 presently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Price Performance

Shares of NYSE:FNA opened at $10.85 on Friday. The company’s fifty day moving average price is $10.18 and its 200-day moving average price is $8.10. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. The firm has a market capitalization of $908.61 million, a price-to-earnings ratio of -14.67 and a beta of 1.50. Paragon 28 has a one year low of $4.65 and a one year high of $14.79.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. 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 37.90% and a negative net margin of 25.31%. Paragon 28’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) earnings per share.

Insider Buying and Selling

In other news, major shareholder Mvm Partners, Llc sold 18,109 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $10.14, for a total transaction of $183,625.26. Following the completion of the sale, the insider now owns 10,481,851 shares of the company’s stock, valued at approximately $106,285,969.14. This represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 252,914 shares of company stock worth $2,585,514 in the last ninety days. 15.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Paragon 28

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in Paragon 28 by 180.6% in the 3rd quarter. Barclays PLC now owns 84,812 shares of the company’s stock worth $567,000 after acquiring an additional 54,591 shares during the last quarter. Millennium Management LLC increased its holdings in Paragon 28 by 5,834.0% during the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock valued at $4,962,000 after purchasing an additional 713,263 shares during the period. GSA Capital Partners LLP purchased a new position in Paragon 28 during the 3rd quarter valued at about $386,000. First Light Asset Management LLC raised its position in Paragon 28 by 115.0% during 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 purchasing an additional 4,371,864 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Paragon 28 by 2,141.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock worth $5,243,000 after buying an additional 749,865 shares during the period. 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.