Paragon 28 (NYSE:FNA) Downgraded by William Blair to Market Perform

Paragon 28 (NYSE:FNA) was downgraded by equities researchers at William Blair from an “outperform” rating to a “market perform” rating in a report released on Wednesday, MarketBeat reports.

Several other research firms have also recently commented on FNA. Canaccord Genuity Group reduced their target price 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. Stephens raised Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $13.00 target price on shares of Paragon 28 in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $15.60.

Paragon 28 Stock Performance

NYSE FNA opened at $12.00 on Wednesday. The firm has a market cap of $1.00 billion, a P/E ratio of -16.22 and a beta of 1.50. Paragon 28 has a 52-week low of $4.65 and a 52-week high of $14.79. The business’s 50-day moving average price is $10.45 and its 200 day moving average price is $8.32. 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 announced its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $60.58 million. During the same period last year, the business posted ($0.10) EPS. The company’s revenue was up 18.0% on a year-over-year basis. On average, equities research analysts expect that Paragon 28 will post -0.64 earnings per share for the current year.

Insider Activity

In related news, major shareholder Mvm Partners, Llc sold 72,133 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $10.16, for a total value of $732,871.28. Following the sale, the insider now directly owns 10,559,065 shares in the company, valued at $107,280,100.40. The trade was a 0.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 273,050 shares of company stock worth $2,819,696. Company insiders own 15.32% of the company’s stock.

Hedge Funds Weigh In On Paragon 28

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC grew its position in shares of Paragon 28 by 15.0% in the fourth quarter. Ballentine Partners LLC now owns 15,630 shares of the company’s stock valued at $161,000 after purchasing an additional 2,043 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Paragon 28 by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company’s stock valued at $178,000 after buying an additional 2,142 shares in the last quarter. Commerce Bank grew its holdings in Paragon 28 by 28.5% during the 3rd quarter. Commerce Bank now owns 18,350 shares of the company’s stock valued at $123,000 after buying an additional 4,075 shares during the last quarter. Algert Global LLC increased its position in Paragon 28 by 12.0% during the second quarter. Algert Global LLC now owns 38,793 shares of the company’s stock worth $265,000 after buying an additional 4,157 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Paragon 28 by 40.1% in the fourth quarter. SG Americas Securities LLC now owns 26,754 shares of the company’s stock worth $276,000 after acquiring an additional 7,653 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.