Paragon 28 (NYSE:FNA) Announces Earnings Results

Paragon 28 (NYSE:FNAGet Rating) posted its quarterly earnings data on Monday. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06), MarketWatch Earnings reports. Paragon 28 updated its FY 2022 guidance to EPS.

NYSE:FNA opened at $14.30 on Tuesday. Paragon 28 has a 1-year low of $12.84 and a 1-year high of $25.41. The business has a 50-day simple moving average of $17.44. The company has a quick ratio of 4.10, a current ratio of 5.29 and a debt-to-equity ratio of 0.04.

A number of research firms have weighed in on FNA. Canaccord Genuity Group cut their price objective on shares of Paragon 28 from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Bank of America cut their price target on shares of Paragon 28 from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, March 9th. Needham & Company LLC cut their price target on shares of Paragon 28 from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, February 9th. Zacks Investment Research upgraded shares of Paragon 28 from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, March 11th. Finally, Canaccord Genuity Group cut their price target on shares of Paragon 28 from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, March 9th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $25.38.

A number of large investors have recently added to or reduced their stakes in FNA. Millennium Management LLC purchased a new stake in Paragon 28 in the fourth quarter worth about $13,058,000. BlackRock Inc. purchased a new stake in shares of Paragon 28 during the fourth quarter valued at about $7,994,000. Geode Capital Management LLC purchased a new stake in shares of Paragon 28 during the fourth quarter valued at about $2,340,000. State Street Corp purchased a new stake in shares of Paragon 28 during the fourth quarter valued at about $1,579,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Paragon 28 during the fourth quarter valued at about $1,244,000. 12.31% of the stock is owned by institutional investors.

About Paragon 28 (Get Rating)

Paragon 28, Inc designs, 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.

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