Paragon 28 (NYSE:FNA) Sees Large Volume Increase - Should You Buy?

Paragon 28, Inc. (NYSE:FNA - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 333,255 shares changed hands during mid-day trading, a decline of 45% from the previous session's volume of 606,822 shares.The stock last traded at $10.17 and had previously closed at $10.20.

Wall Street Analyst Weigh In

FNA has been the subject of several research analyst reports. Canaccord Genuity Group reduced their price target on shares of Paragon 28 from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th. Piper Sandler restated an "overweight" rating and set a $12.00 price objective (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Finally, Needham & Company LLC boosted their price target on shares of Paragon 28 from $11.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Paragon 28 currently has a consensus rating of "Buy" and a consensus price target of $15.60.

Paragon 28 Trading Down 0.2 %

The company's 50 day moving average price is $6.48 and its 200 day moving average price is $7.21. 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 company has a market cap of $852.27 million, a price-to-earnings ratio of -13.79 and a beta of 1.01.

Paragon 28 (NYSE:FNA - Get Free Report) last issued its quarterly earnings data 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 return on equity of 37.90% and a negative net margin of 25.31%. The business had revenue of $62.30 million for the quarter, compared to the consensus estimate of $60.58 million. During the same period last year, the business earned ($0.10) EPS. The firm's revenue was up 18.0% compared to the same quarter last year. Research analysts anticipate that Paragon 28, Inc. will post -0.66 EPS for the current year.

Institutional Investors Weigh In On Paragon 28

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its position in shares of Paragon 28 by 16.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company's stock valued at $156,000 after buying an additional 1,766 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Paragon 28 by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company's stock valued at $178,000 after acquiring an additional 2,142 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Paragon 28 by 6.0% in the 2nd quarter. Rhumbline Advisers now owns 65,727 shares of the company's stock worth $450,000 after acquiring an additional 3,720 shares during the period. Commerce Bank grew its holdings in shares of Paragon 28 by 28.5% during the 3rd quarter. Commerce Bank now owns 18,350 shares of the company's stock worth $123,000 after purchasing an additional 4,075 shares in the last quarter. Finally, Algert Global LLC increased its position in shares of Paragon 28 by 12.0% during the second quarter. Algert Global LLC now owns 38,793 shares of the company's stock valued at $265,000 after purchasing an additional 4,157 shares during the period. Institutional investors and hedge funds 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.

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