William Blair Analysts Raise Earnings Estimates for Paragon 28, Inc. (NYSE:FNA)

Paragon 28, Inc. (NYSE:FNA) – Analysts at William Blair lifted their FY2023 earnings per share estimates for shares of Paragon 28 in a note issued to investors on Tuesday, November 7th. William Blair analyst B. Vazquez now forecasts that the company will post earnings of ($0.44) per share for the year, up from their previous estimate of ($0.49). William Blair has a “Outperform” rating on the stock. The consensus estimate for Paragon 28’s current full-year earnings is ($0.44) per share. William Blair also issued estimates for Paragon 28’s FY2024 earnings at ($0.41) EPS and FY2025 earnings at ($0.29) EPS.

Separately, Needham & Company LLC cut their price target on Paragon 28 from $24.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $26.20.

Paragon 28 Price Performance

Shares of FNA opened at $9.00 on Friday. The stock has a fifty day moving average of $11.45 and a two-hundred day moving average of $15.12. The company has a current ratio of 3.20, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21. Paragon 28 has a fifty-two week low of $7.95 and a fifty-two week high of $21.49.

Hedge Funds Weigh In On Paragon 28

A number of large investors have recently modified their holdings of FNA. Braidwell LP purchased a new position in shares of Paragon 28 in the 1st quarter worth about $18,755,000. Greenhouse Funds LLLP acquired a new stake in shares of Paragon 28 in the first quarter valued at about $15,536,000. First Light Asset Management LLC grew its stake in shares of Paragon 28 by 64.8% in the first quarter. First Light Asset Management LLC now owns 2,037,939 shares of the company’s stock valued at $34,788,000 after buying an additional 801,677 shares in the last quarter. State Street Corp grew its stake in shares of Paragon 28 by 506.5% in the second quarter. State Street Corp now owns 886,101 shares of the company’s stock valued at $14,062,000 after buying an additional 740,003 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its stake in shares of Paragon 28 by 66.1% in the first quarter. ArrowMark Colorado Holdings LLC now owns 999,695 shares of the company’s stock valued at $17,065,000 after buying an additional 397,741 shares in the last quarter. 34.19% of the stock is currently owned by hedge funds and other institutional investors.

Paragon 28 Company Profile

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.