FNA - Why Paragon 28 Stock Jumped Today
Shares of Paragon 28 (NYSE: FNA) were jumping 13.1% as of 3:20 p.m. ET on Wednesday. The gain came after the medical device maker announced its fourth-quarter results following the market close on Tuesday.
Paragon 28 reported net revenue of $42.8 million in the fourth quarter of 2021, up 22% year over year. The company posted a net loss in the fourth quarter of $6.2 million, or $0.08 per share. Both top- and bottom-line numbers were in line with the consensus estimates.
But investors were even more excited about Paragon's 2022 outlook. The company expects 2022 net revenue between $167 million and $171 million. This range reflects 13% to 16% growth compared to 2021. It's also above the average analysts' 2022 revenue estimate of $163.1 million.
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Why Paragon 28 Stock Jumped Today