Paragon 28 (NYSE:FNA) Shares Down 7.7% – Time to Sell?

Shares of Paragon 28, Inc. (NYSE:FNA) dropped 7.7% during trading on Tuesday . The stock traded as low as $9.91 and last traded at $9.91. Approximately 110,816 shares were traded during trading, a decline of 78% from the average daily volume of 507,912 shares. The stock had previously closed at $10.74.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FNA. Canaccord Genuity Group lowered their target price on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of Paragon 28 in a report on Monday. Finally, Stephens raised Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Paragon 28 presently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Stock Down 9.3 %

The stock has a market capitalization of $815.43 million, a P/E ratio of -13.16 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. The firm’s fifty day moving average is $9.90 and its 200-day moving average is $8.02.

Paragon 28 (NYSE:FNA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $60.58 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. Paragon 28’s quarterly revenue 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. As a group, equities research analysts predict that Paragon 28, Inc. will post -0.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Mvm Partners, Llc sold 18,109 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $10.14, for a total value of $183,625.26. Following the sale, the insider now directly owns 10,481,851 shares in the company, valued at $106,285,969.14. This trade represents a 0.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 252,914 shares of company stock valued at $2,585,514. Company 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. Intech Investment Management LLC acquired a new position in shares of Paragon 28 during the 3rd quarter worth approximately $70,000. Ballentine Partners LLC acquired a new stake in shares of Paragon 28 in the third quarter valued at approximately $91,000. Creative Planning bought a new stake in Paragon 28 in the 3rd quarter valued at $91,000. Hsbc Holdings PLC acquired a new stake in Paragon 28 during the 2nd quarter valued at $104,000. Finally, Commerce Bank boosted its position in Paragon 28 by 28.5% during the third quarter. Commerce Bank now owns 18,350 shares of the company’s stock worth $123,000 after purchasing an additional 4,075 shares during the period. 63.57% of the stock is currently owned by institutional investors.

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.