Paragon 28, Inc. (NYSE:FNA) Given Average Recommendation of "Hold" by Analysts

Paragon 28, Inc. (NYSE:FNA - Get Free Report) has received a consensus rating of "Hold" from the six analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $14.60.

FNA has been the subject of several research reports. William Blair lowered Paragon 28 from an "outperform" rating to a "market perform" rating in a report on Wednesday. Canaccord Genuity Group reaffirmed a "hold" rating on shares of Paragon 28 in a research report on Wednesday. Needham & Company LLC reissued a "hold" rating and issued a $13.00 price objective on shares of Paragon 28 in a report on Wednesday. Finally, Stephens reaffirmed an "equal weight" rating and set a $13.00 price objective (down from $14.00) on shares of Paragon 28 in a report on Thursday.

Paragon 28 Stock Performance

Shares of NYSE:FNA traded down $0.01 during midday trading on Wednesday, reaching $13.03. The company had a trading volume of 2,052,850 shares, compared to its average volume of 1,525,951. The stock has a market cap of $1.09 billion, a P/E ratio of -17.60 and a beta of 1.50. The company's 50 day moving average price is $10.65 and its 200 day moving average price is $8.45. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. Paragon 28 has a 52-week low of $4.65 and a 52-week high of $14.79.

Paragon 28 (NYSE:FNA - Get Free Report) last released its 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. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The firm had revenue of $62.30 million for the quarter, compared to analysts' expectations of $60.58 million. During the same period in the previous year, the company earned ($0.10) earnings per share. The company's quarterly revenue was up 18.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Paragon 28 will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 shares were sold at an average price of $10.00, for a total transaction of $42,560.00. Following the completion of the transaction, the insider now owns 10,499,960 shares of the company's stock, valued at approximately $104,999,600. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 300,192 shares of company stock valued at $3,135,086. Corporate insiders own 15.32% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FNA. State Street Corp increased its holdings in shares of Paragon 28 by 2.6% in the third quarter. State Street Corp now owns 1,563,331 shares of the company's stock worth $10,443,000 after purchasing an additional 39,075 shares during the period. Geode Capital Management LLC grew its position in Paragon 28 by 2.5% during the third quarter. Geode Capital Management LLC now owns 967,519 shares of the company's stock worth $6,464,000 after buying an additional 23,167 shares in the last quarter. JPMorgan Chase & Co. grew its position in Paragon 28 by 2,141.7% during the third quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company's stock worth $5,243,000 after buying an additional 749,865 shares in the last quarter. Millennium Management LLC increased its stake in Paragon 28 by 5,834.0% in the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company's stock worth $4,962,000 after acquiring an additional 713,263 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings 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 valued at $4,641,000 after acquiring an additional 45,215 shares in the last quarter. 63.57% of the stock is owned by institutional investors.

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.