Paragon 28 (NYSE:FNA) Sees Unusually-High Trading Volume - What's Next?

Paragon 28, Inc. (NYSE:FNA - Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 2,050,027 shares changed hands during trading, an increase of 20% from the previous session's volume of 1,711,886 shares.The stock last traded at $13.02 and had previously closed at $12.99.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FNA. William Blair cut Paragon 28 from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. Stephens reiterated an "equal weight" rating and issued a $13.00 price target (down previously from $14.00) on shares of Paragon 28 in a report on Thursday. Needham & Company LLC reissued a "hold" rating and set a $13.00 price objective on shares of Paragon 28 in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating on shares of Paragon 28 in a research report on Wednesday, January 29th. Four 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 an average price target of $14.60.

Paragon 28 Price Performance

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 fifty day moving average price of $10.65 and a two-hundred day moving average price of $8.46. The company has a market cap of $1.09 billion, a P/E ratio of -17.57 and a beta of 1.54.

Paragon 28 (NYSE:FNA - Get Free Report) last posted its quarterly 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. The firm had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The business's revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share. On average, sell-side analysts anticipate that Paragon 28, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Paragon 28 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 transaction of $42,560.00. Following the transaction, the insider now owns 10,499,960 shares of the company's stock, valued at $104,999,600. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 300,192 shares of company stock worth $3,135,086. Insiders own 15.32% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised 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. Geode Capital Management LLC raised 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 purchasing an additional 23,167 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Paragon 28 by 2,141.7% during the 3rd 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 during the last quarter. Millennium Management LLC boosted its holdings in shares of Paragon 28 by 5,834.0% during the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company's stock worth $4,962,000 after buying an additional 713,263 shares during the period. Finally, Wellington Management Group LLP grew its stake in 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 buying an additional 45,215 shares during the last quarter. 63.57% of the stock is currently 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.