Mvm Partners, Llc Sells 147,581 Shares of Paragon 28, Inc. (NYSE:FNA) Stock

Paragon 28, Inc. (NYSE:FNA) major shareholder Mvm Partners, Llc sold 147,581 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $10.28, for a total value of $1,517,132.68. Following the completion of the sale, the insider now owns 10,738,564 shares in the company, valued at approximately $110,392,437.92. The trade was a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Paragon 28 Trading Down 3.7 %

Shares of NYSE:FNA traded down $0.39 during mid-day trading on Friday, hitting $10.04. The stock had a trading volume of 862,267 shares, compared to its average volume of 613,874. Paragon 28, Inc. has a 12-month low of $4.65 and a 12-month high of $14.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. The company has a market cap of $840.55 million, a PE ratio of -14.09 and a beta of 1.01. The company’s 50 day moving average is $6.66 and its 200-day moving average is $7.25.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $62.30 million for the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. Paragon 28’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) earnings per share. On average, sell-side analysts predict that Paragon 28, Inc. will post -0.66 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Light Asset Management LLC lifted its holdings in Paragon 28 by 115.0% in the 2nd quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock worth $55,916,000 after purchasing an additional 4,371,864 shares during the last quarter. Vanguard Group Inc. increased its stake in Paragon 28 by 2.7% in the first quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company’s stock valued at $26,012,000 after purchasing an additional 55,851 shares in the last quarter. State Street Corp grew its holdings in shares of Paragon 28 by 2.6% in the 3rd 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 during the period. Janus Henderson Group PLC raised its stake in Paragon 28 by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock worth $14,818,000 after buying an additional 273,077 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Paragon 28 by 15.4% during the second quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock worth $6,986,000 after acquiring an additional 135,911 shares in the last quarter. 63.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on FNA. Piper Sandler reissued an “overweight” rating and issued a $12.00 price target (down from $15.00) on shares of Paragon 28 in a report on Friday, August 9th. Canaccord Genuity Group lowered their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Finally, Needham & Company LLC increased their price target on shares of Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $15.60.

Paragon 28 Company Profile

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.