Piper Sandler Reiterates Overweight Rating for Paragon 28 (NYSE:FNA)

Paragon 28 (NYSE:FNA)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a report issued on Friday, Benzinga reports. They presently have a $12.00 price target on the stock, down from their prior price target of $15.00. Piper Sandler’s target price points to a potential upside of 80.72% from the stock’s previous close.

FNA has been the topic of a number of other reports. Needham & Company LLC dropped their price objective on shares of Paragon 28 from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Friday. JMP Securities reduced their price objective on Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating for the company in a research note on Thursday, May 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $15.25.

Paragon 28 Stock Down 20.1 %

FNA traded down $1.67 on Friday, hitting $6.64. The company had a trading volume of 2,044,191 shares, compared to its average volume of 646,397. The stock has a market capitalization of $550.79 million, a price-to-earnings ratio of -10.22 and a beta of 0.99. 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 stock has a fifty day moving average price of $7.20 and a 200-day moving average price of $9.47. Paragon 28 has a 12-month low of $5.55 and a 12-month high of $15.37.

Paragon 28 (NYSE:FNA) last announced its earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share for the quarter, meeting the consensus estimate of ($0.17). The company had revenue of $61.02 million during the quarter, compared to the consensus estimate of $60.08 million. Paragon 28 had a negative net margin of 24.45% and a negative return on equity of 27.72%. Paragon 28’s revenue was up 19.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) earnings per share. Analysts predict that Paragon 28 will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Paragon 28

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. purchased a new stake in Paragon 28 during the 4th quarter worth approximately $25,000. Nisa Investment Advisors LLC increased its position in shares of Paragon 28 by 46,660.0% during the second 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 in the last quarter. Levin Capital Strategies L.P. acquired a new position in Paragon 28 in the 2nd quarter valued at $68,000. Price T Rowe Associates Inc. MD lifted its holdings in Paragon 28 by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock valued at $156,000 after purchasing an additional 1,766 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in 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 last quarter. 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.