Paragon 28 (NYSE:FNA) Rating Lowered to "Market Perform" at William Blair

Paragon 28 (NYSE:FNA - Get Free Report) was downgraded by William Blair from an "outperform" rating to a "market perform" rating in a note issued to investors on Wednesday, MarketBeat reports.

Several other equities research analysts also recently weighed in on FNA. Needham & Company LLC restated a "buy" rating and issued a $13.00 target price on shares of Paragon 28 in a research note on Monday, January 13th. Canaccord Genuity Group dropped their target price 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. Finally, Stephens raised Paragon 28 to a "strong-buy" rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.60.

Paragon 28 Stock Down 0.0 %

NYSE:FNA traded down $0.01 during mid-day trading on Wednesday, reaching $13.03. The company's stock had a trading volume of 2,052,850 shares, compared to its average volume of 1,525,951. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $1.09 billion, a PE ratio of -17.60 and a beta of 1.50. The stock has a fifty day moving average of $10.65 and a 200-day moving average of $8.45. Paragon 28 has a 1 year low of $4.65 and a 1 year high of $14.79.

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, beating the consensus estimate of ($0.16) by $0.01. The company had revenue of $62.30 million for the quarter, compared to analyst estimates 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 was up 18.0% compared to the same quarter last year. During the same period last year, the company posted ($0.10) earnings per share. Equities research analysts forecast that Paragon 28 will post -0.64 earnings per share for the current year.

Insider Activity at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 20,136 shares of Paragon 28 stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $11.63, for a total transaction of $234,181.68. Following the completion of the sale, the insider now owns 10,366,009 shares of the company's stock, valued at $120,556,684.67. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 300,192 shares of company stock valued at $3,135,086 in the last ninety days. Company insiders own 15.32% of the company's stock.

Hedge Funds Weigh In On Paragon 28

A number of institutional investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of 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 buying an additional 39,075 shares during the period. Geode Capital Management LLC lifted its holdings 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 acquiring an additional 23,167 shares during the period. JPMorgan Chase & Co. lifted its holdings in Paragon 28 by 2,141.7% in the third quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company's stock valued at $5,243,000 after acquiring an additional 749,865 shares during the period. Millennium Management LLC boosted its position in Paragon 28 by 5,834.0% in the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company's stock worth $4,962,000 after purchasing an additional 713,263 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Paragon 28 by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 694,799 shares of the company's stock worth $4,641,000 after purchasing an additional 45,215 shares during the period. 63.57% of the stock is owned by hedge funds and other 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.