Paragon 28 (NYSE:FNA) Shares Gap Up – Should You Buy?

Shares of Paragon 28, Inc. (NYSE:FNA) gapped up before the market opened 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

A number of equities research analysts have commented on the company. Canaccord Genuity Group reduced their target price on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 target price on shares of Paragon 28 in a research report on Monday. Finally, Stephens upgraded shares of Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Price Performance

The company has a fifty day moving average of $9.80 and a 200-day moving average of $7.99. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. The stock has a market cap of $894.13 million, a PE ratio of -14.43 and a beta of 1.50.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $60.58 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. Sell-side analysts expect that Paragon 28, Inc. will post -0.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 18,109 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $10.14, for a total value of $183,625.26. Following the sale, the insider now owns 10,481,851 shares of the company’s stock, valued at $106,285,969.14. This trade represents a 0.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 252,914 shares of company stock worth $2,585,514 in the last ninety days. 15.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paragon 28

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Light Asset Management LLC lifted its stake in Paragon 28 by 115.0% in the second quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock worth $55,916,000 after acquiring an additional 4,371,864 shares during the last quarter. State Street Corp lifted its position in shares of Paragon 28 by 2.6% during the 3rd quarter. State Street Corp now owns 1,563,331 shares of the company’s stock worth $10,443,000 after purchasing an additional 39,075 shares during the last quarter. Thrivent Financial for Lutherans grew its stake 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 purchasing an additional 135,911 shares in the last quarter. Geode Capital Management LLC increased 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 buying an additional 23,167 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake 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 buying an additional 749,865 shares in the last quarter. 63.57% of the stock is owned by institutional investors and hedge funds.

About Paragon 28

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.