Paragon 28 (NYSE:FNA) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Paragon 28 (NYSE:FNA) in a research note published on Monday morning,Benzinga reports. They currently have a $13.00 price target on the stock.

Several other analysts have also weighed in on the stock. Stephens upgraded shares of Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group cut their price target on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Stock Up 0.1 %

NYSE FNA opened at $10.29 on Monday. Paragon 28 has a twelve month low of $4.65 and a twelve month high of $14.79. The stock has a market cap of $861.48 million, a PE ratio of -13.91 and a beta of 1.50. The firm has a 50-day simple moving average of $10.04 and a 200 day simple moving average of $8.06. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50.

Paragon 28 (NYSE:FNA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The company had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. During the same quarter last year, the company earned ($0.10) EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis. On average, research analysts forecast that Paragon 28 will post -0.66 EPS for the current year.

Insider Buying and Selling

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 72,133 shares of Paragon 28 stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $10.16, for a total transaction of $732,871.28. Following the completion of the sale, the insider now owns 10,559,065 shares of the company’s stock, valued at approximately $107,280,100.40. The trade was a 0.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 252,914 shares of company stock valued at $2,585,514 over the last ninety days. Insiders own 15.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FNA. Bank of New York Mellon Corp grew its stake in shares of Paragon 28 by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 159,822 shares of the company’s stock worth $1,093,000 after purchasing an additional 24,440 shares during the period. Rhumbline Advisers boosted its holdings in Paragon 28 by 6.0% during the second quarter. Rhumbline Advisers now owns 65,727 shares of the company’s stock worth $450,000 after buying an additional 3,720 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Paragon 28 during the 2nd quarter worth about $419,000. Hsbc Holdings PLC bought a new stake in shares of Paragon 28 in the 2nd quarter valued at about $104,000. Finally, XTX Topco Ltd raised its position in shares of Paragon 28 by 36.4% in the 2nd quarter. XTX Topco Ltd now owns 22,335 shares of the company’s stock valued at $153,000 after acquiring an additional 5,963 shares during the period. Institutional investors and hedge funds own 63.57% of the company’s stock.

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.