Paragon 28 (NYSE:FNA) Sees Strong Trading Volume – Here’s What Happened

Paragon 28, Inc. (NYSE:FNA) shares saw an uptick in trading volume on Thursday . 2,050,027 shares were traded during trading, an increase of 20% from the previous session’s volume of 1,711,886 shares.The stock last traded at $13.02 and had previously closed at $12.99.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FNA. Needham & Company LLC reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Paragon 28 in a research note on Wednesday. Stephens reissued an “equal weight” rating and issued a $13.00 price objective (down from $14.00) on shares of Paragon 28 in a research note on Thursday. Canaccord Genuity Group reissued a “hold” rating on shares of Paragon 28 in a research report on Wednesday. Finally, William Blair lowered shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.60.

Paragon 28 Price Performance

The company has a 50-day moving average of $10.53 and a 200 day moving average of $8.38. The firm has a market cap of $1.09 billion, a P/E ratio of -17.60 and a beta of 1.50. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50.

Paragon 28 (NYSE:FNA) last released its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) EPS. On average, sell-side analysts anticipate that Paragon 28, Inc. will post -0.64 EPS for the current year.

Insider Activity at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 20,136 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $11.63, for a total transaction of $234,181.68. Following the completion of the sale, the insider now owns 10,366,009 shares of the company’s stock, valued at $120,556,684.67. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 300,192 shares of company stock valued at $3,135,086. Corporate insiders own 15.32% of the company’s stock.

Institutional Trading of Paragon 28

A number of institutional investors have recently modified their holdings of FNA. JPMorgan Chase & Co. increased its stake in shares of Paragon 28 by 2,141.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock valued at $5,243,000 after purchasing an additional 749,865 shares during the last quarter. Millennium Management LLC lifted its holdings in Paragon 28 by 5,834.0% in the second quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock valued at $4,962,000 after buying an additional 713,263 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Paragon 28 in the 2nd quarter worth about $869,000. Stonepine Capital Management LLC acquired a new position in shares of Paragon 28 in the 3rd quarter valued at about $766,000. Finally, Sei Investments Co. bought a new stake in shares of Paragon 28 during the 2nd quarter valued at about $531,000. 63.57% of the stock is currently owned by institutional investors.

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.