Paragon 28 (NYSE:FNA) Trading Up 5.8% – Still a Buy?

Shares of Paragon 28, Inc. (NYSE:FNA) were up 5.8% during mid-day trading on Wednesday . The stock traded as high as $11.01 and last traded at $10.96. Approximately 263,655 shares traded hands during trading, a decline of 56% from the average daily volume of 604,324 shares. The stock had previously closed at $10.36.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FNA shares. Stephens upgraded Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group reduced their price objective on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Needham & Company LLC raised their price objective on Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Paragon 28 presently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Trading Down 3.1 %

The firm has a market cap of $840.55 million, a price-to-earnings ratio of -13.57 and a beta of 1.52. The company has a 50-day moving average price of $8.01 and a 200 day moving average price of $7.50. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79.

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

Insider Activity at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 147,581 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $10.28, for a total transaction of $1,517,132.68. Following the transaction, the insider now directly owns 10,738,564 shares in the company, valued at $110,392,437.92. This trade represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 252,914 shares of company stock valued at $2,585,514. Insiders own 15.32% of the company’s stock.

Hedge Funds Weigh In On Paragon 28

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

Paragon 28 Company Profile

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.