Needham & Company LLC Raises Paragon 28 (NYSE:FNA) Price Target to $13.00

Paragon 28 (NYSE:FNA) had its price target increased by Needham & Company LLC from $11.00 to $13.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 price target (down previously from $15.00) on shares of Paragon 28 in a report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Paragon 28 has a consensus rating of “Buy” and an average price target of $15.60.

Paragon 28 Trading Up 3.2 %

Shares of FNA stock opened at $10.01 on Wednesday. The stock has a market capitalization of $838.04 million, a price-to-earnings ratio of -13.53 and a beta of 1.01. The company’s fifty day simple moving average is $6.43 and its two-hundred day simple moving average is $7.24. Paragon 28 has a 1 year low of $4.65 and a 1 year high of $14.79. 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) last announced 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. The firm had revenue of $62.30 million for 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 company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) earnings per share. As a group, analysts anticipate that Paragon 28 will post -0.68 earnings per share for the current year.

Institutional Trading of Paragon 28

Institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank raised its position in Paragon 28 by 12.7% during the first quarter. Swiss National Bank now owns 73,400 shares of the company’s stock valued at $906,000 after purchasing an additional 8,300 shares in the last quarter. Inspire Investing LLC purchased a new position in Paragon 28 in the 1st quarter worth $361,000. Vanguard Group Inc. lifted its stake in Paragon 28 by 2.7% in the first quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company’s stock worth $26,012,000 after purchasing an additional 55,851 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Paragon 28 by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock worth $156,000 after buying an additional 1,766 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Paragon 28 by 29.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock worth $14,818,000 after purchasing an additional 273,077 shares during the period. Hedge funds and other institutional investors own 63.57% of the company’s stock.

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.