Kristina Wright, a director at Paragon 28, Inc. (NASDAQ:FNA), recently sold 4,181 shares of the company's common stock. The shares were sold at a price of $10 each, totaling $41,810. Following this transaction, Wright holds 34,478 shares in the company. This sale was conducted under Wright's Rule 10b5-1 trading plan, which was adopted on March 8, 2024.
In other recent news, Paragon 28, a key player in the foot and ankle orthopedic market, reported a significant increase in revenue for the third quarter of 2024. The company announced a record global revenue of $62.3 million, an 18.1% increase from the previous year. The U.S. market contributed $51.2 million, up 14.8%, while international markets experienced a robust 35.7% growth.
Paragon 28's operational efficiency improvements were evident, with a significant decrease in free cash flow usage and the first positive adjusted EBITDA since its IPO. The company also raised its full-year net revenue guidance for 2024.
In addition to these financial highlights, Paragon 28 launched 13 new products including the Phantom Fibula Nail System and a short stem tibia implant. The company is focused on achieving EBITDA positivity in 2025 and cash flow positivity in 2026. These recent developments reflect Paragon 28's commitment to continued growth and operational efficiency.
InvestingPro Insights
Following Kristina Wright's recent sale of Paragon 28, Inc. (NASDAQ:FNA) shares, investors might be interested in additional context provided by InvestingPro data and tips. The company's stock has shown significant momentum recently, with a 35.66% return over the last week and a robust 68.99% return over the past month. This surge in stock price might explain the timing of Wright's sale under her pre-established trading plan.
Despite the recent price rally, InvestingPro data reveals that Paragon 28 is not currently profitable, with a negative operating income of $39.98 million over the last twelve months. This aligns with an InvestingPro Tip indicating that analysts do not anticipate the company will be profitable this year. However, the company's revenue growth of 18.16% over the same period suggests ongoing business expansion.
Another InvestingPro Tip notes that Paragon 28 operates with a moderate level of debt, which could provide financial flexibility as the company pursues growth. The stock's Price to Book ratio of 6.12 indicates that investors are placing a premium on the company's assets, possibly due to growth expectations.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Paragon 28, providing a deeper understanding of the company's financial health and market position.
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