Paragon 28 (NYSE:FNA) Stock Price Down 2.8%

Paragon 28, Inc. (NYSE:FNA)’s stock price fell 2.8% during mid-day trading on Wednesday . The stock traded as low as $6.57 and last traded at $6.57. 4,234 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 605,455 shares. The stock had previously closed at $6.76.

Wall Street Analysts Forecast Growth

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

Paragon 28 Trading Down 1.2 %

The business has a 50 day simple moving average of $7.40 and a 200-day simple moving average of $10.08. 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 stock has a market capitalization of $554.11 million, a price-to-earnings ratio of -10.42 and a beta of 0.98.

Paragon 28 (NYSE:FNA) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The firm had revenue of $61.08 million during the quarter. Paragon 28 had a negative net margin of 24.45% and a negative return on equity of 27.72%. On average, equities analysts predict that Paragon 28, Inc. will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On Paragon 28

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Paragon 28 by 12.2% in the 3rd 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 in the last quarter. First Light Asset Management LLC raised its holdings in shares of Paragon 28 by 39.4% during the 4th quarter. First Light Asset Management LLC now owns 3,817,794 shares of the company’s stock valued at $47,455,000 after buying an additional 1,079,916 shares during the period. MVM Partners LLC purchased a new stake in shares of Paragon 28 during the 4th quarter valued at about $134,879,000. Wellington Management Group LLP purchased a new stake in shares of Paragon 28 during the 4th quarter valued at about $5,824,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Paragon 28 during the 4th quarter valued at about $875,000. 63.57% of the stock is owned by institutional investors and hedge funds.

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.