Paragon 28, Inc. (NYSE:FNA) Receives $15.60 Average PT from Brokerages

Paragon 28, Inc. (NYSE:FNA) has been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $14.60.

FNA has been the topic of a number of research analyst reports. Stephens restated an “equal weight” rating and issued a $13.00 target price (down from $14.00) on shares of Paragon 28 in a research note on Thursday, January 30th. Needham & Company LLC restated a “hold” rating and issued a $13.00 target price on shares of Paragon 28 in a research note on Wednesday, January 29th. William Blair lowered Paragon 28 from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Finally, Canaccord Genuity Group reiterated a “hold” rating on shares of Paragon 28 in a research report on Wednesday, January 29th.

Insider Buying and Selling

In related news, major shareholder Mvm Partners, Llc sold 27,142 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $11.62, for a total transaction of $315,390.04. Following the transaction, the insider now directly owns 10,313,841 shares in the company, valued at $119,846,832.42. This trade represents a 0.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 300,192 shares of company stock worth $3,135,086 in the last ninety days. 15.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Paragon 28

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its position in Paragon 28 by 2.6% during the 3rd quarter. State Street Corp now owns 1,563,331 shares of the company’s stock worth $10,443,000 after acquiring an additional 39,075 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Paragon 28 by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 967,519 shares of the company’s stock worth $6,464,000 after buying an additional 23,167 shares during the period. JPMorgan Chase & Co. lifted its holdings in Paragon 28 by 2,141.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock worth $5,243,000 after buying an additional 749,865 shares during the period. Millennium Management LLC lifted its holdings in Paragon 28 by 5,834.0% in the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock worth $4,962,000 after buying an additional 713,263 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Paragon 28 by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 694,799 shares of the company’s stock worth $4,641,000 after buying an additional 45,215 shares during the period. 63.57% of the stock is currently owned by institutional investors.

Paragon 28 Stock Performance

Shares of FNA opened at $13.00 on Wednesday. The stock’s 50-day simple moving average is $10.71 and its 200 day simple moving average is $8.49. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -17.56 and a beta of 1.54. 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 has a 52-week low of $4.65 and a 52-week high of $14.79.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $62.30 million for 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%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) EPS. Research analysts forecast that Paragon 28 will post -0.64 EPS for the current fiscal year.

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.