Paragon 28’s (FNA) “Hold” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Paragon 28 (NYSE:FNA) in a research note released on Wednesday morning, MarketBeat reports.

A number of other equities analysts have also recently commented on FNA. Needham & Company LLC restated a “hold” rating and set a $13.00 target price on shares of Paragon 28 in a report on Wednesday. Stephens upgraded Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Finally, William Blair lowered Paragon 28 from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.60.

Paragon 28 Stock Performance

NYSE FNA opened at $13.03 on Wednesday. The stock has a market cap of $1.09 billion, a PE ratio of -17.60 and a beta of 1.50. 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 has a twelve month low of $4.65 and a twelve month high of $14.79. The stock has a fifty day simple moving average of $10.59 and a 200-day simple moving average of $8.42.

Paragon 28 (NYSE:FNA) last announced its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, beating 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 analysts’ expectations of $60.58 million. During the same period last year, the business posted ($0.10) EPS. Paragon 28’s revenue for the quarter was up 18.0% on a year-over-year basis. Equities analysts anticipate that Paragon 28 will post -0.64 earnings per share for the current year.

Insider Buying and Selling at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 72,133 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $10.16, for a total value of $732,871.28. Following the completion of the transaction, the insider now directly owns 10,559,065 shares of the company’s stock, valued at $107,280,100.40. This represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 300,192 shares of company stock valued at $3,135,086 in the last quarter. Corporate insiders own 15.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FNA. Venturi Wealth Management LLC purchased a new position in shares of Paragon 28 in the 4th quarter valued at $36,000. Intech Investment Management LLC purchased a new position in shares of Paragon 28 in the 3rd quarter valued at $70,000. Creative Planning purchased a new position in shares of Paragon 28 in the 3rd quarter valued at $91,000. Ballentine Partners LLC purchased a new position in shares of Paragon 28 in the 3rd quarter valued at $91,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Paragon 28 in the 2nd quarter valued at $104,000. 63.57% of the stock is owned by hedge funds and other 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.