Paragon 28 (NYSE:FNA) Earns Overweight Rating from Piper Sandler

Paragon 28 (NYSE:FNA)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Sandler in a report released on Thursday, Benzinga reports. They presently have a $15.00 price objective on the stock, down from their prior price objective of $18.00. Piper Sandler’s price objective would suggest a potential upside of 57.89% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. Stephens restated an “overweight” rating and set a $18.00 price target on shares of Paragon 28 in a research note on Friday, April 5th. Needham & Company LLC cut their target price on shares of Paragon 28 from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday.

Paragon 28 Price Performance

FNA opened at $9.50 on Thursday. The firm has a market cap of $787.65 million, a PE ratio of -16.38 and a beta of 1.12. Paragon 28 has a 1 year low of $7.95 and a 1 year high of $19.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.21 and a quick ratio of 2.30. The stock has a 50-day moving average price of $10.31 and a 200-day moving average price of $11.12.

Paragon 28 (NYSE:FNA) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.09). Paragon 28 had a negative net margin of 22.11% and a negative return on equity of 22.51%. The firm had revenue of $60.56 million for the quarter, compared to the consensus estimate of $60.73 million. Sell-side analysts predict that Paragon 28 will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Albert Dacosta purchased 28,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $9.12 per share, for a total transaction of $255,360.00. Following the acquisition, the insider now directly owns 5,339,110 shares of the company’s stock, valued at approximately $48,692,683.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.32% of the stock is currently owned by insiders.

Institutional Trading of Paragon 28

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new position in shares of Paragon 28 during the fourth quarter valued at approximately $25,000. HighMark Wealth Management LLC bought a new position in shares of Paragon 28 in the fourth quarter worth about $99,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Paragon 28 by 91.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,984 shares of the company’s stock worth $138,000 after acquiring an additional 5,234 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Paragon 28 during the third quarter worth approximately $142,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Paragon 28 during the fourth quarter valued at approximately $249,000. 63.57% of the stock is owned by hedge funds and other institutional investors.

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.