FY2024 EPS Estimates for Paragon 28 Raised by William Blair

Paragon 28, Inc. (NYSE:FNA) – Investment analysts at William Blair lifted their FY2024 earnings per share estimates for shares of Paragon 28 in a research report issued 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 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.

A number of other analysts have also weighed in on the company. Canaccord Genuity Group cut their price objective 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. 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 research report on Wednesday, November 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $15.60.

Paragon 28 Price Performance

Paragon 28 stock opened at $10.01 on Monday. The company has a quick ratio of 1.70, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. Paragon 28 has a 52-week low of $4.65 and a 52-week high of $14.79. The firm has a market cap of $838.04 million, a PE ratio of -13.53 and a beta of 1.01. The company’s 50 day moving average is $6.43 and its two-hundred day moving average is $7.23.

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 the consensus estimate of ($0.16) by $0.01. The business had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $60.58 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) earnings per share.

Institutional Trading of Paragon 28

Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted 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 acquiring an additional 1,766 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Paragon 28 by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company’s stock worth $178,000 after purchasing an additional 2,142 shares during the last quarter. Rhumbline Advisers boosted its holdings in Paragon 28 by 6.0% in the second quarter. Rhumbline Advisers now owns 65,727 shares of the company’s stock valued at $450,000 after purchasing an additional 3,720 shares in the last quarter. Commerce Bank increased its stake in Paragon 28 by 28.5% in the third quarter. Commerce Bank now owns 18,350 shares of the company’s stock valued at $123,000 after purchasing an additional 4,075 shares during the last quarter. Finally, Algert Global LLC raised its holdings in Paragon 28 by 12.0% during the second quarter. Algert Global LLC now owns 38,793 shares of the company’s stock worth $265,000 after purchasing an additional 4,157 shares in the last quarter. 63.57% of the stock is currently owned by institutional investors and hedge funds.

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.