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Paragon 28 (FNA) New Staple System Expands Ankle Device Line
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Paragon 28, Inc. (FNA - Free Report) recently launched its JAWS Great White Staple System. This development is expected to strategically fortify its position in the field of midfoot and hindfoot solutions.
According to Paragon 28, this advanced system offers increased strength and stability of the osteotomy or fusion site compared to conventional staple systems.
More on the News
The JAWS Great White Staple System has an ultra-low-profile bridge with an expanded surface area. This is expected to enhance stability while minimizing soft tissue irritation. The staple's design incorporates shoulders that seamlessly align with the inserter, ensuring full seating before compression activation and eliminating the need for additional tampering.
Superiority Over Traditional System
The JAWS Great White Staple System is claimed to have 400 times greater fatigue life compared to competitors under similar load conditions. Additionally, it provides a remarkable 169% increased compressive force compared to the average two-prong nitinol staple in the market. These attributes redefine the benchmark for strength and durability in midfoot and hindfoot solutions.
Image Source: Zacks Investment Research
Strategic Expansion of Portfolio
This latest addition, the JAWS Great White Staple System, broadens Paragon 28's comprehensive hindfoot solutions offering that includes the Gorilla Ankle Fracture Plating System, APEX 3D Total Ankle Replacement, Silverback Ankle Fusion Plating System, Phantom TTC Nail System and Phantom ActivCore Nail System. With this detailed portfolio, Paragon 28 is poised to capture the huge orthopedic and ankle solution market targeting trauma, arthritis, and limb salvage.
Industry Prospects
Going by a Business Wire report, the global foot and ankle devices market, valued at $1.4 billion in 2022, is poised for substantial growth, with a projected CAGR of 7.3% to reach $2.3 billion by 2029. Key segments encompass primary ankle replacement, total ankle fusion, midfoot fixation, bunion treatment, hindfoot device, foot digit implant, hammertoe device and syndesmotic repair.
Share Price Performance
Shares of Paragon 28 have plunged 46.6% over the past year compared with an 8.8% decline of the industry.
Estimates for Insulet’s 2023 earnings per share have increased from $1.61 to $1.90 in the past 30 days. Shares of the company have decreased 41.6% in the past year compared with the industry’s decline of 6.7%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Haemonetics' stock has risen 13.2% in the past year. Estimates for Haemonetics’s 2023 earnings have increased from $3.82 to $3.86 in the past 30 days, while the same for 2024 have increased from $4.07 to $4.11.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.23 to $1.41 in the past 30 days. Shares of the company have fallen 9.4% in the past year compared with the industry’s decline of 7.2%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
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Paragon 28 (FNA) New Staple System Expands Ankle Device Line
Paragon 28, Inc. (FNA - Free Report) recently launched its JAWS Great White Staple System. This development is expected to strategically fortify its position in the field of midfoot and hindfoot solutions.
According to Paragon 28, this advanced system offers increased strength and stability of the osteotomy or fusion site compared to conventional staple systems.
More on the News
The JAWS Great White Staple System has an ultra-low-profile bridge with an expanded surface area. This is expected to enhance stability while minimizing soft tissue irritation. The staple's design incorporates shoulders that seamlessly align with the inserter, ensuring full seating before compression activation and eliminating the need for additional tampering.
Superiority Over Traditional System
The JAWS Great White Staple System is claimed to have 400 times greater fatigue life compared to competitors under similar load conditions. Additionally, it provides a remarkable 169% increased compressive force compared to the average two-prong nitinol staple in the market. These attributes redefine the benchmark for strength and durability in midfoot and hindfoot solutions.
Image Source: Zacks Investment Research
Strategic Expansion of Portfolio
This latest addition, the JAWS Great White Staple System, broadens Paragon 28's comprehensive hindfoot solutions offering that includes the Gorilla Ankle Fracture Plating System, APEX 3D Total Ankle Replacement, Silverback Ankle Fusion Plating System, Phantom TTC Nail System and Phantom ActivCore Nail System. With this detailed portfolio, Paragon 28 is poised to capture the huge orthopedic and ankle solution market targeting trauma, arthritis, and limb salvage.
Industry Prospects
Going by a Business Wire report, the global foot and ankle devices market, valued at $1.4 billion in 2022, is poised for substantial growth, with a projected CAGR of 7.3% to reach $2.3 billion by 2029. Key segments encompass primary ankle replacement, total ankle fusion, midfoot fixation, bunion treatment, hindfoot device, foot digit implant, hammertoe device and syndesmotic repair.
Share Price Performance
Shares of Paragon 28 have plunged 46.6% over the past year compared with an 8.8% decline of the industry.
Zacks Rank and Key Picks
FNA currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Insulet (PODD - Free Report) , Haemonetics (HAE - Free Report) and DexCom (DXCM - Free Report) . While Insulet presently sports a Zacks Rank #1 (Strong Buy), Haemonetics and DexCom each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for Insulet’s 2023 earnings per share have increased from $1.61 to $1.90 in the past 30 days. Shares of the company have decreased 41.6% in the past year compared with the industry’s decline of 6.7%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Haemonetics' stock has risen 13.2% in the past year. Estimates for Haemonetics’s 2023 earnings have increased from $3.82 to $3.86 in the past 30 days, while the same for 2024 have increased from $4.07 to $4.11.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.23 to $1.41 in the past 30 days. Shares of the company have fallen 9.4% in the past year compared with the industry’s decline of 7.2%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.