Paragon 28, Inc. (NYSE:FNA - Get Free Report)'s stock price traded up 5.8% during mid-day trading on Wednesday . The stock traded as high as $11.01 and last traded at $10.96. 263,655 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 604,324 shares. The stock had previously closed at $10.36.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group lowered their price objective on Paragon 28 from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Needham & Company LLC upped their price target on Paragon 28 from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, Stephens raised 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 company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $15.60.
Get Our Latest Report on FNA
Paragon 28 Stock Performance
The stock has a 50-day moving average of $8.10 and a 200 day moving average of $7.51. The firm has a market capitalization of $840.55 million, a P/E ratio of -13.57 and a beta of 1.52. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50.
Paragon 28 (NYSE:FNA - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate 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 company had revenue of $62.30 million for the quarter, compared to analysts' expectations of $60.58 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. The business's revenue for the quarter was up 18.0% on a year-over-year basis. On average, research analysts anticipate that Paragon 28, Inc. will post -0.66 earnings per share for the current year.
Insider Buying and Selling at Paragon 28
In other news, major shareholder Mvm Partners, Llc sold 147,581 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $10.28, for a total transaction of $1,517,132.68. Following the transaction, the insider now owns 10,738,564 shares of the company's stock, valued at $110,392,437.92. This represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders sold 252,914 shares of company stock worth $2,585,514. 15.32% of the stock is currently owned by corporate insiders.
Institutional Trading of Paragon 28
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FNA. First Light Asset Management LLC raised its position in shares of Paragon 28 by 115.0% during the 2nd quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company's stock valued at $55,916,000 after acquiring an additional 4,371,864 shares during the last quarter. State Street Corp increased its holdings in Paragon 28 by 2.6% in the third quarter. State Street Corp now owns 1,563,331 shares of the company's stock valued at $10,443,000 after purchasing an additional 39,075 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Paragon 28 by 15.4% in the second quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company's stock valued at $6,986,000 after purchasing an additional 135,911 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 buying an additional 23,167 shares during the period. Finally, Millennium Management LLC boosted its holdings in 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 during the last quarter. 63.57% of the stock is currently owned by institutional investors and hedge funds.
About Paragon 28
(
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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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