Paragon 28's (FNA) "Equal Weight" Rating Reaffirmed at Stephens

Stephens reaffirmed their equal weight rating on shares of Paragon 28 (NYSE:FNA - Free Report) in a report released on Thursday morning, MarketBeat Ratings reports. Stephens currently has a $13.00 price target on the stock, down from their prior price target of $14.00.

A number of other brokerages have also recently commented on FNA. William Blair cut Paragon 28 from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Canaccord Genuity Group restated a "hold" rating on shares of Paragon 28 in a report on Wednesday, January 29th. Finally, Needham & Company LLC reiterated a "hold" rating and set a $13.00 price objective on shares of Paragon 28 in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.60.

Paragon 28 Trading Down 0.1 %

Shares of NYSE:FNA traded down $0.02 during trading on Thursday, reaching $13.01. 2,319,171 shares of the stock were exchanged, compared to its average volume of 1,837,138. Paragon 28 has a 12-month low of $4.65 and a 12-month high of $14.79. The firm's 50-day moving average price is $10.65 and its 200 day moving average price is $8.46. 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 firm has a market cap of $1.09 billion, a price-to-earnings ratio of -17.57 and a beta of 1.54.

Paragon 28 (NYSE:FNA - Get Free Report) last released 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. 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%. Paragon 28's revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) earnings per share. On average, sell-side analysts anticipate that Paragon 28 will post -0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Mvm Partners, Llc sold 147,581 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $10.28, for a total transaction of $1,517,132.68. Following the completion of the sale, the insider now owns 10,738,564 shares of the company's stock, valued at approximately $110,392,437.92. This trade represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 300,192 shares of company stock worth $3,135,086 in the last three months. 15.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its position in shares of Paragon 28 by 1.7% in the 4th quarter. Rhumbline Advisers now owns 62,861 shares of the company's stock worth $649,000 after purchasing an additional 1,024 shares during the last quarter. MN Wealth Advisors LLC increased its holdings in Paragon 28 by 1.4% in the fourth quarter. MN Wealth Advisors LLC now owns 84,535 shares of the company's stock valued at $873,000 after buying an additional 1,200 shares during the last quarter. Ballentine Partners LLC raised its stake in Paragon 28 by 15.0% during the fourth quarter. Ballentine Partners LLC now owns 15,630 shares of the company's stock valued at $161,000 after buying an additional 2,043 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Paragon 28 by 9.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company's stock worth $178,000 after buying an additional 2,142 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Paragon 28 in the 4th quarter worth approximately $36,000. 63.57% of the stock is currently owned by institutional investors.

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.