Paragon 28’s (FNA) “Equal Weight” Rating Reaffirmed at Stephens

Stephens reissued their equal weight rating on shares of Paragon 28 (NYSE:FNA) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $13.00 target price on the stock, down from their prior target price of $14.00.

Several other research firms also recently commented on FNA. William Blair downgraded shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday. Needham & Company LLC reissued a “hold” rating and set a $13.00 price target on shares of Paragon 28 in a research report on Wednesday. Finally, Canaccord Genuity Group reissued a “hold” rating on shares of Paragon 28 in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.60.

Paragon 28 Trading Up 0.3 %

Shares of FNA stock opened at $13.03 on Thursday. Paragon 28 has a 12-month low of $4.65 and a 12-month high of $14.79. The firm has a fifty day moving average of $10.53 and a 200-day moving average of $8.38. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The firm had revenue of $62.30 million for the quarter, compared to analyst estimates of $60.58 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) EPS. On average, analysts predict that Paragon 28 will post -0.64 EPS for the current fiscal year.

Insider Transactions at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 4,256 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $10.00, for a total value of $42,560.00. Following the transaction, the insider now owns 10,499,960 shares in the company, valued at $104,999,600. The trade was a 0.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 300,192 shares of company stock valued at $3,135,086 in the last quarter. 15.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paragon 28

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in shares of Paragon 28 by 2.6% during the third 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Paragon 28 by 2.5% in the third quarter. Geode Capital Management LLC now owns 967,519 shares of the company’s stock valued at $6,464,000 after acquiring an additional 23,167 shares during the period. JPMorgan Chase & Co. boosted its holdings in Paragon 28 by 2,141.7% in the third quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock valued at $5,243,000 after acquiring an additional 749,865 shares in the last quarter. Millennium Management LLC boosted its position in shares of Paragon 28 by 5,834.0% during the second quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock valued at $4,962,000 after purchasing an additional 713,263 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of 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 acquiring an additional 45,215 shares in the last quarter. Hedge funds and other institutional investors own 63.57% of the company’s stock.

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.