Paragon 28, Inc. (NYSE:FNA) Short Interest Update

Paragon 28, Inc. (NYSE:FNA - Get Free Report) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,440,000 shares, a decline of 20.0% from the February 13th total of 1,800,000 shares. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is currently 1.0 days. Approximately 3.0% of the shares of the company are sold short.

Analyst Ratings Changes

FNA has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a "hold" rating and set a $13.00 price target on shares of Paragon 28 in a report on Wednesday, January 29th. William Blair lowered Paragon 28 from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. Canaccord Genuity Group set a $13.00 price target on Paragon 28 in a report on Wednesday, January 29th. Finally, Stephens reiterated an "equal weight" rating and set a $13.00 price target (down from $14.00) on shares of Paragon 28 in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $14.20.

Insider Buying and Selling

In related news, major shareholder Mvm Partners, Llc sold 1,044,295 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $13.04, for a total value of $13,617,606.80. Following the completion of the sale, the insider now directly owns 7,810,588 shares in the company, valued at approximately $101,850,067.52. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 1,875,984 shares of company stock worth $24,359,971. 15.32% of the stock is currently owned by insiders.

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Institutional Trading of Paragon 28

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position 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 during the period. Vanguard Group Inc. grew its position in Paragon 28 by 17.9% in the fourth quarter. Vanguard Group Inc. now owns 2,809,109 shares of the company's stock valued at $29,018,000 after acquiring an additional 425,983 shares during the period. First Light Asset Management LLC grew its position in Paragon 28 by 4.2% in the fourth quarter. First Light Asset Management LLC now owns 10,580,467 shares of the company's stock valued at $109,296,000 after acquiring an additional 425,824 shares during the period. Millennium Management LLC bought a new stake in Paragon 28 in the fourth quarter valued at $3,598,000. Finally, Stonepine Capital Management LLC bought a new stake in Paragon 28 in the third quarter valued at $766,000. 63.57% of the stock is currently owned by institutional investors.

Paragon 28 Stock Performance

Shares of FNA traded down $0.01 on Friday, reaching $13.03. 943,269 shares of the stock traded hands, compared to its average volume of 872,259. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -17.60 and a beta of 1.54. 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 has a 12 month low of $4.65 and a 12 month high of $13.13. The stock's 50-day moving average price is $12.57 and its 200-day moving average price is $9.67.

Paragon 28 (NYSE:FNA - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The firm had revenue of $71.75 million for the quarter, compared to the consensus estimate of $70.81 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. Equities analysts forecast that Paragon 28 will post -0.64 EPS for the current fiscal year.

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.