Paragon 28 (NYSE:FNA) Stock Price Up 9.3%

Paragon 28, Inc. (NYSE:FNA)’s share price shot up 9.3% during trading on Thursday . The stock traded as high as $7.43 and last traded at $7.42. 190,315 shares changed hands during trading, a decline of 69% from the average session volume of 608,213 shares. The stock had previously closed at $6.79.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FNA shares. JMP Securities lowered their price objective on shares of Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 9th. Stephens reaffirmed an “overweight” rating and issued a $18.00 target price on shares of Paragon 28 in a report on Friday, April 5th. Piper Sandler reissued an “overweight” rating and set a $15.00 price target (down from $18.00) on shares of Paragon 28 in a report on Thursday, May 9th. Finally, Needham & Company LLC lowered their price objective on Paragon 28 from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Paragon 28 presently has an average rating of “Buy” and a consensus target price of $16.75.

Paragon 28 Stock Up 11.8 %

The firm’s 50-day simple moving average is $7.34 and its 200 day simple moving average is $10.06. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.78 and a current ratio of 3.57. The company has a market capitalization of $629.59 million, a PE ratio of -10.45 and a beta of 0.98.

Paragon 28 (NYSE:FNA) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). Paragon 28 had a negative return on equity of 27.72% and a negative net margin of 24.45%. The company had revenue of $61.08 million for the quarter. As a group, equities research analysts forecast that Paragon 28, Inc. will post -0.58 earnings per share for the current year.

Institutional Trading of Paragon 28

Several large investors have recently bought and sold shares of FNA. Vanguard Group Inc. raised its position in shares of Paragon 28 by 12.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,001,692 shares of the company’s stock worth $25,121,000 after purchasing an additional 217,246 shares during the last quarter. HighMark Wealth Management LLC purchased a new position in Paragon 28 during the fourth quarter worth $99,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Paragon 28 by 26.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,886 shares of the company’s stock worth $173,000 after acquiring an additional 2,902 shares during the last quarter. Roubaix Capital LLC lifted its position in shares of Paragon 28 by 6.9% in the fourth quarter. Roubaix Capital LLC now owns 221,678 shares of the company’s stock valued at $2,755,000 after acquiring an additional 14,290 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Paragon 28 during the fourth quarter valued at $875,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

About Paragon 28

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.