ENGLEWOOD, CO—Kristina Wright, a director at Paragon 28, Inc. (NYSE:FNA), a medical device company with an $837 million market capitalization and 18% year-over-year revenue growth, recently sold a total of $23,602 worth of the company's common stock. The transactions, executed on December 6, 2024, were conducted under Wright's Rule 10b5-1 trading plan, which she adopted earlier this year on March 8.
The sale involved 2,360 shares at a price of $10 per share and an additional 100 shares at $10.02 per share. Following these transactions, Wright holds 32,118 shares of Paragon 28 common stock. The stock has shown strong momentum, gaining nearly 47% over the past six months, according to InvestingPro data.
Paragon 28, headquartered in Englewood, Colorado, specializes in surgical and medical instruments and apparatus. The company continues to navigate the market with a focus on innovation in the medical field. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with a strong liquidity position reflected in its 3.5x current ratio. For deeper insights into FNA's valuation and 8 additional ProTips, visit InvestingPro.
In other recent news, Paragon 28, a key player in the orthopedic market, reported a significant rise in revenue for the third quarter of 2024. The company announced a record global revenue of $62.3 million, marking an 18.1% increase from the previous year. The U.S. market contributed $51.2 million, up by 14.8%, while international markets experienced a robust 35.7% growth.
Operational efficiency improvements at Paragon 28 were evident, with a decrease in free cash flow usage and the first positive adjusted EBITDA since its IPO. In light of these developments, the company has revised its full-year net revenue guidance upward.
In the recent developments, Paragon 28 launched 13 new products, including the Phantom Fibula Nail System and a short stem tibia implant, contributing to the positive financial results. The company is committed to achieving EBITDA positivity in 2025 and cash flow positivity in 2026. Despite higher inventory levels than industry standards, the company's total ankle franchise and new product offerings are expected to drive growth.
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