Paragon 28 (NYSE:FNA) Shares Up 3.8% - Time to Buy?

Shares of Paragon 28, Inc. (NYSE:FNA - Get Free Report) rose 3.8% on Friday . The company traded as high as $10.11 and last traded at $10.07. Approximately 112,976 shares were traded during trading, a decline of 81% from the average daily volume of 606,746 shares. The stock had previously closed at $9.70.

Wall Street Analysts Forecast Growth

FNA has been the subject of several research reports. Canaccord Genuity Group cut their price target on Paragon 28 from $17.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday. Piper Sandler reaffirmed an "overweight" rating and set a $12.00 target price (down previously from $15.00) on shares of Paragon 28 in a report on Friday, August 9th. Finally, Needham & Company LLC upped their price target on shares of Paragon 28 from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $15.60.

Paragon 28 Stock Performance

The company has a market cap of $848.08 million, a P/E ratio of -13.55 and a beta of 1.01. The stock's 50-day moving average price is $6.37 and its 200-day moving average price is $7.23. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.70.

Paragon 28 (NYSE:FNA - Get Free Report) last released 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 company had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The firm's quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) earnings per share. Equities analysts anticipate that Paragon 28, Inc. will post -0.68 EPS for the current year.

Institutional Trading of Paragon 28

Large investors have recently modified their holdings of the stock. Stonepine Capital Management LLC bought a new stake in Paragon 28 during the third quarter worth $766,000. Charles Schwab Investment Management Inc. lifted its position in shares of Paragon 28 by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 343,565 shares of the company's stock worth $2,295,000 after buying an additional 15,064 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Paragon 28 in the third quarter valued at about $70,000. Commerce Bank grew its position in Paragon 28 by 28.5% in the third quarter. Commerce Bank now owns 18,350 shares of the company's stock valued at $123,000 after acquiring an additional 4,075 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Paragon 28 during the third quarter worth about $386,000. 63.57% of the stock is owned by institutional investors and hedge funds.

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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