Paragon 28 (NYSE:FNA) Trading Down 4.7% – Should You Sell?

Paragon 28, Inc. (NYSE:FNA) shares fell 4.7% during mid-day trading on Wednesday . The stock traded as low as $9.96 and last traded at $10.01. 191,257 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 610,097 shares. The stock had previously closed at $10.50.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $12.00 target price (down previously from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Canaccord Genuity Group decreased their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Needham & Company LLC boosted their target price on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Price Performance

The firm has a market cap of $859.80 million, a PE ratio of -14.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. The stock’s fifty day moving average price is $6.54 and its 200-day moving average price is $7.21.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) EPS. As a group, equities analysts expect that Paragon 28, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Trading of Paragon 28

Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its holdings in shares of Paragon 28 by 46,660.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after buying an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in Paragon 28 during the 2nd quarter valued at about $68,000. Intech Investment Management LLC purchased a new stake in Paragon 28 during the third quarter valued at approximately $70,000. Ballentine Partners LLC purchased a new stake in shares of Paragon 28 during the third quarter worth about $91,000. Finally, Creative Planning purchased a new stake in shares of Paragon 28 during the 3rd quarter worth approximately $91,000. 63.57% of the stock is currently owned by institutional investors.

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.