Needham & Company LLC reaffirmed their buy rating on shares of Paragon 28 (NYSE:FNA - Free Report) in a research report sent to investors on Monday morning,Benzinga reports. Needham & Company LLC currently has a $13.00 price objective on the stock.
A number of other brokerages also recently weighed in on FNA. Stephens raised Paragon 28 to a "strong-buy" rating in a research report on Monday, December 2nd. Canaccord Genuity Group lowered their price target on shares of Paragon 28 from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Paragon 28 presently has a consensus rating of "Buy" and a consensus target price of $15.60.
Check Out Our Latest Research Report on Paragon 28
Paragon 28 Trading Up 3.4 %
FNA traded up $0.35 during trading on Monday, hitting $10.70. 904,337 shares of the stock were exchanged, compared to its average volume of 572,805. 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 firm has a 50 day simple moving average of $9.90 and a 200 day simple moving average of $8.02. The firm has a market cap of $895.80 million, a price-to-earnings ratio of -14.46 and a beta of 1.50. Paragon 28 has a 1 year low of $4.65 and a 1 year high of $14.79.
Paragon 28 (NYSE:FNA - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the company posted ($0.10) earnings per share. The firm's quarterly revenue was up 18.0% on a year-over-year basis. As a group, equities analysts expect that Paragon 28 will post -0.66 EPS for the current year.
Insider Buying and Selling at Paragon 28
In related news, major shareholder Mvm Partners, Llc sold 72,133 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $10.16, for a total transaction of $732,871.28. Following the completion of the transaction, the insider now owns 10,559,065 shares of the company's stock, valued at $107,280,100.40. This trade represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 252,914 shares of company stock worth $2,585,514. 15.32% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Paragon 28
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNA. First Light Asset Management LLC boosted its stake in shares of Paragon 28 by 115.0% during the 2nd quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company's stock worth $55,916,000 after acquiring an additional 4,371,864 shares in the last quarter. State Street Corp grew its stake in 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 acquiring an additional 39,075 shares during the period. Thrivent Financial for Lutherans increased its holdings in Paragon 28 by 15.4% in the 2nd 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. Geode Capital Management LLC lifted its holdings in Paragon 28 by 2.5% during the third 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 in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Paragon 28 by 2,141.7% during the third quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company's stock valued at $5,243,000 after purchasing an additional 749,865 shares in the last quarter. 63.57% of the stock is owned by institutional investors and hedge funds.
Paragon 28 Company Profile
(
Get Free Report)
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.
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