Paragon 28 IPO: Is FNA stock a buy as it starts trading on NYSE?

Highlights

  • Paragon 28 shares will be listed on the New York Stock Exchange and trade under 'FNA' stock symbol.
  • Priced at US$ 16 per share, Paragon 28 will offer 7.81 million common shares. 
  • Notably, Paragon 28 has around 8,700 stock-keeping units, and its suite of surgical solutions consists of 72 product systems. 

Paragon 28, Inc. (NYSE:FNA) is expected to start trading on Friday, October 15, after the company had recently set terms for the initial public offering. Priced at US$ 16 per share, the medical device maker will offer 7.81 million common shares. 


The Colorado-based company was established in 2010 to resolve the issue of the unmet needs of the foot and ankle orthopedic market. Paragon 28 offers customized solutions and tools to improve the treatment of complex foot and ankle conditions. 


Paragon shares will be listed on the New York Stock Exchange and trade under 'FNA' stock symbol. As the shares are all set to begin trading, let's find out if the stock is worth buying for your portfolio investment: 

Should you invest in Paragon 28 stock? 


Paragon 28 claims that it has emerged as one of the leading companies in the foot and orthopedic market because of its innovative solutions. Presently, the company is providing a wide variety of solutions that includes disposables and surgical implants. 


Notably, Paragon 28 has around 8,700 stock-keeping units, and its suite of surgical solutions consists of 72 product systems. 


As per the company website, Paragon 28 has supported 10,696 foot, and ankle surgeries and at least 300 doctors use products made by the company. In addition, the company has spent 4287 days developing solutions for the foot and ankle community and has filed 175 product patents. 


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As of June 30, 2021, Paragon 28 had a presence in 23 countries as it was selling its products in those countries. In 2020, 10 per cent of the revenues were from the company's international business, and it hopes to further expand the business operations in the US and the rest of the world. 

Paragon 28 IPO

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Bottom line


From 2015 to 2020, Paragon 28's net revenue has increased at a compound annual growth rate (CAGR) of 42 per cent. 


The net revenue increased from US$ 19.4 million in 2015 to US$ 106.3 million in 2019. In addition, the net revenue in 2020 was US$ 111 million, which was lower than expected as the COVID-19 pandemic had disrupted the surgical procedures. 

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In 2020, Paragon 28 recorded a net income of US$ 3.5 million, which was up from US$ 3.1 million in 2019.

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