Paragon 28 (NYSE:FNA) Trading Down 6.4%

Paragon 28, Inc. (NYSE:FNA)’s stock price was down 6.4% during mid-day trading on Thursday . The company traded as low as $7.65 and last traded at $7.66. Approximately 28,571 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 623,241 shares. The stock had previously closed at $8.18.

Wall Street Analyst Weigh In

FNA has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and issued a $12.00 price target (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Needham & Company LLC decreased their target price on Paragon 28 from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Paragon 28 has a consensus rating of “Buy” and an average price target of $15.25.

Paragon 28 Price Performance

The stock has a market cap of $605.54 million, a PE ratio of -11.22 and a beta of 1.00. The company has a 50-day simple moving average of $7.77 and a 200-day simple moving average of $8.73. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.57 and a quick ratio of 1.70.

Paragon 28 (NYSE:FNA) last issued its earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). Paragon 28 had a negative net margin of 24.64% and a negative return on equity of 32.39%. The company had revenue of $61.02 million for the quarter, compared to analyst estimates of $60.08 million. During the same period in the prior year, the business posted ($0.13) earnings per share. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. Sell-side analysts anticipate that Paragon 28, Inc. will post -0.67 EPS for the current fiscal year.

Institutional Trading of Paragon 28

Several large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. acquired a new stake in shares of Paragon 28 during the fourth quarter valued at $25,000. Nisa Investment Advisors LLC lifted its holdings in Paragon 28 by 46,660.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $32,000 after purchasing an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of Paragon 28 during the 2nd quarter worth about $68,000. Hsbc Holdings PLC purchased a new stake in shares of Paragon 28 during the second quarter worth about $104,000. Finally, XTX Topco Ltd raised its position in shares of Paragon 28 by 36.4% in the second quarter. XTX Topco Ltd now owns 22,335 shares of the company’s stock valued at $153,000 after buying an additional 5,963 shares during the last quarter. 63.57% of the stock is currently 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.