Paragon 28 (NYSE:FNA) Shares Gap Up - Still a Buy?

Paragon 28, Inc. (NYSE:FNA - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $10.35, but opened at $10.85. Paragon 28 shares last traded at $10.47, with a volume of 53,716 shares traded.

Analysts Set New Price Targets

FNA has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $13.00 price target on shares of Paragon 28 in a report on Monday. Canaccord Genuity Group reduced their target price 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. Finally, Stephens upgraded shares of Paragon 28 to a "strong-buy" rating in a report on Monday, December 2nd. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $15.60.

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 market capitalization of $895.80 million, a PE ratio of -14.46 and a beta of 1.50. The company's 50-day simple moving average is $9.80 and its 200-day simple moving average is $7.99.

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 (EPS) for the quarter, topping the consensus estimate 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 company 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 firm posted ($0.10) EPS. Paragon 28's revenue for the quarter was up 18.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Paragon 28, Inc. will post -0.66 earnings per share for the current year.

Insider Activity at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 4,256 shares of Paragon 28 stock in a transaction dated 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 in the company, 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 SEC, which is accessible through this link. Insiders sold 252,914 shares of company stock worth $2,585,514 over the last 90 days. Company insiders own 15.32% of the company's stock.

Hedge Funds Weigh In On Paragon 28

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in shares of Paragon 28 by 180.6% during the third quarter. Barclays PLC now owns 84,812 shares of the company's stock worth $567,000 after buying an additional 54,591 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Paragon 28 by 5,834.0% during the second 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 in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Paragon 28 during the third quarter worth about $386,000. First Light Asset Management LLC grew its holdings in shares of Paragon 28 by 115.0% during the second quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company's stock worth $55,916,000 after buying an additional 4,371,864 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Paragon 28 by 15.4% during the second quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company's stock worth $6,986,000 after buying an additional 135,911 shares in the last quarter. 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.