Paragon 28 (NYSE:FNA) Price Target Cut to $15.00 by Analysts at Canaccord Genuity Group

Paragon 28 (NYSE:FNA) had its price target cut by Canaccord Genuity Group from $17.00 to $15.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on FNA. Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 target price (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Needham & Company LLC upped their target price on shares of Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Paragon 28 presently has a consensus rating of “Buy” and an average price target of $15.60.

Paragon 28 Stock Up 3.2 %

FNA stock opened at $10.01 on Wednesday. The firm has a market cap of $838.04 million, a PE ratio of -13.53 and a beta of 1.01. Paragon 28 has a one year low of $4.65 and a one year high of $14.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.70 and a current ratio of 3.50. The firm’s 50 day moving average price is $6.43 and its 200-day moving average price is $7.24.

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. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The firm had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. During the same period 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, equities research analysts anticipate that Paragon 28 will post -0.68 EPS for the current year.

Institutional Trading of Paragon 28

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Paragon 28 by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 967,519 shares of the company’s stock valued at $6,464,000 after purchasing an additional 23,167 shares during the last quarter. Barclays PLC grew its stake in shares of Paragon 28 by 180.6% during the third quarter. Barclays PLC now owns 84,812 shares of the company’s stock worth $567,000 after purchasing an additional 54,591 shares in the last quarter. Wellington Management Group LLP increased its holdings in Paragon 28 by 7.0% in the third quarter. Wellington Management Group LLP now owns 694,799 shares of the company’s stock valued at $4,641,000 after buying an additional 45,215 shares during the last quarter. State Street Corp raised its stake in Paragon 28 by 2.6% in the third quarter. State Street Corp now owns 1,563,331 shares of the company’s stock valued at $10,443,000 after buying an additional 39,075 shares in the last quarter. Finally, Stonepine Capital Management LLC purchased a new stake in Paragon 28 during the 3rd quarter worth about $766,000. 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.