GW&K Investment Management LLC Makes New Investment in Paragon 28, Inc. (NYSE:FNA)

GW&K Investment Management LLC acquired a new position in shares of Paragon 28, Inc. (NYSE:FNA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 277,347 shares of the company’s stock, valued at approximately $3,447,000. GW&K Investment Management LLC owned about 0.34% of Paragon 28 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FNA. Braidwell LP boosted its stake in Paragon 28 by 57.4% during the third quarter. Braidwell LP now owns 3,361,824 shares of the company’s stock worth $42,191,000 after buying an additional 1,225,702 shares during the last quarter. Vanguard Group Inc. raised its position in Paragon 28 by 12.2% in the third quarter. Vanguard Group Inc. now owns 2,001,692 shares of the company’s stock valued at $25,121,000 after purchasing an additional 217,246 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Paragon 28 in the fourth quarter valued at $875,000. Charles Schwab Investment Management Inc. raised its position in Paragon 28 by 27.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 307,759 shares of the company’s stock valued at $3,862,000 after purchasing an additional 66,473 shares during the period. Finally, CenterBook Partners LP purchased a new stake in Paragon 28 in the third quarter valued at $319,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

Paragon 28 Price Performance

FNA stock opened at $7.87 on Thursday. The company has a current ratio of 3.57, a quick ratio of 1.78 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $652.40 million, a PE ratio of -12.10 and a beta of 1.12. Paragon 28, Inc. has a 12-month low of $7.25 and a 12-month high of $19.00. The business’s fifty day moving average price is $9.68 and its 200 day moving average price is $11.06.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.09). The firm had revenue of $60.56 million during the quarter, compared to analysts’ expectations of $60.73 million. Paragon 28 had a negative net margin of 24.45% and a negative return on equity of 27.72%. On average, sell-side analysts anticipate that Paragon 28, Inc. will post -0.54 EPS for the current year.

Insiders Place Their Bets

In related news, insider Albert Dacosta purchased 28,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were bought 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 in the company, valued at $48,692,683.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Stephens restated an “overweight” rating and issued a $18.00 target price on shares of Paragon 28 in a research report on Friday, April 5th. JMP Securities reduced their target price on Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 9th. Needham & Company LLC reduced their target price on Paragon 28 from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, Piper Sandler restated an “overweight” rating and issued a $15.00 target price (down previously from $18.00) on shares of Paragon 28 in a research report on Thursday, May 9th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Paragon 28 presently has an average rating of “Buy” and a consensus price target of $16.75.

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.