Paragon 28 (NYSE:FNA) Trading Down 3.4%

Paragon 28, Inc. (NYSE:FNA) shares were down 3.4% during trading on Monday . The stock traded as low as $8.32 and last traded at $8.33. Approximately 38,641 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 600,068 shares. The stock had previously closed at $8.62.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Stephens reaffirmed an “overweight” rating and set a $18.00 target price on shares of Paragon 28 in a research note on Friday, April 5th. JMP Securities reduced their price target on shares of Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating for the company in a research report on Thursday, May 9th. Piper Sandler restated an “overweight” rating and set a $15.00 price target (down previously from $18.00) on shares of Paragon 28 in a research report on Thursday, May 9th. Finally, Needham & Company LLC reduced their price target on shares of Paragon 28 from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $16.75.

Paragon 28 Price Performance

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 firm’s 50 day moving average is $7.16 and its 200-day moving average is $9.69.

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

Institutional Trading of Paragon 28

Several hedge funds have recently made changes to their positions in FNA. PNC Financial Services Group Inc. purchased a new position in shares of Paragon 28 during the 4th quarter worth approximately $25,000. Nisa Investment Advisors LLC boosted its position in shares of Paragon 28 by 46,660.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after purchasing an additional 4,666 shares during the period. HighMark Wealth Management LLC purchased a new position in shares of Paragon 28 during the 4th quarter worth approximately $99,000. Price T Rowe Associates Inc. MD boosted its position in shares of Paragon 28 by 16.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock worth $156,000 after purchasing an additional 1,766 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Paragon 28 by 26.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,886 shares of the company’s stock worth $173,000 after purchasing an additional 2,902 shares during the period. Hedge funds and other institutional investors 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.