Strength Seen in Paragon 28, Inc. (FNA): Can Its 8.3% Jump Turn into More Strength?

Paragon 28, Inc. FNA shares ended the last trading session 8.3% higher at $12.99. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.2% gain over the past four weeks.Paragon 28 recorded a strong price rise on investors’ optimism surrounding an announcement by Zimmer Biomet to acquire all of the outstanding shares of Paragon 28. Zimmer Biomet agreed to buy Paragon 28 for an equity value of approximately $1.1 billion. The deal is expected to close in the first half of 2025.This company is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of +36.8%. Revenues are expected to be $71.66 million, up 18.3% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Paragon 28, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FNA going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Paragon 28, Inc. is part of the Zacks Medical - Instruments industry. TransMedics TMDX, another stock in the same industry, closed the last trading session 2.2% lower at $65.53. TMDX has returned 7.5% in the past month.For TransMedics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.18. This represents a change of +50% from what the company reported a year ago. TransMedics currently has a Zacks Rank of #5 (Strong Sell).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Paragon 28, Inc. (FNA): Free Stock Analysis Report TransMedics Group, Inc. (TMDX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks