Paragon 28 (NYSE:FNA) Given “Equal Weight” Rating at Stephens

Paragon 28 (NYSE:FNA)‘s stock had its “equal weight” rating restated by analysts at Stephens in a research report issued on Thursday,Benzinga reports. They currently have a $13.00 target price on the stock, down from their previous target price of $14.00. Stephens’ price objective would suggest a potential downside of 0.19% from the stock’s current price.

FNA has been the subject of several other reports. Canaccord Genuity Group reiterated a “hold” rating on shares of Paragon 28 in a report on Wednesday. Needham & Company LLC restated a “hold” rating and set a $13.00 price objective on shares of Paragon 28 in a research note on Wednesday. Finally, William Blair cut Paragon 28 from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.60.

Paragon 28 Price Performance

Shares of FNA stock opened at $13.03 on Thursday. Paragon 28 has a twelve month low of $4.65 and a twelve month high of $14.79. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -17.60 and a beta of 1.50. The stock has a fifty day simple moving average of $10.59 and a two-hundred day simple moving average of $8.42. The company has a current ratio of 3.50, a quick ratio of 1.60 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) earnings per share for the quarter, topping 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 business had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $60.58 million. During the same period in the prior year, the business earned ($0.10) EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, analysts predict that Paragon 28 will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Mvm Partners, Llc sold 4,256 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $10.00, for a total transaction of $42,560.00. Following the transaction, the insider now directly owns 10,499,960 shares of the company’s stock, valued at $104,999,600. This represents a 0.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 300,192 shares of company stock worth $3,135,086 in the last three months. 15.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FNA. Renaissance Technologies LLC acquired a new position in Paragon 28 during the 2nd quarter valued at about $419,000. Hsbc Holdings PLC acquired a new position in Paragon 28 during the 2nd quarter valued at about $104,000. Sei Investments Co. acquired a new position in Paragon 28 during the 2nd quarter valued at about $531,000. Cubist Systematic Strategies LLC acquired a new position in Paragon 28 during the 2nd quarter valued at about $869,000. Finally, Squarepoint Ops LLC increased its position in Paragon 28 by 87.9% during the 2nd quarter. Squarepoint Ops LLC now owns 129,576 shares of the company’s stock valued at $886,000 after buying an additional 60,628 shares in the last quarter. 63.57% of the stock is owned by institutional investors and hedge funds.

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.