Paragon 28’s (FNA) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Paragon 28 (NYSE:FNA) in a report published on Wednesday, MarketBeat.com reports. The firm currently has a $13.00 price target on the stock.

A number of other research firms have also commented on FNA. Canaccord Genuity Group reduced their price target on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. William Blair downgraded shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Stephens raised shares of Paragon 28 to a “strong-buy” rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.60.

Paragon 28 Stock Performance

NYSE FNA opened at $13.00 on Wednesday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -17.56 and a beta of 1.50. Paragon 28 has a twelve month low of $4.65 and a twelve month high of $14.79. The stock has a fifty day simple moving average of $10.48 and a 200 day simple moving average of $8.35. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79.

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

Insider Buying and Selling at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 147,581 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $10.28, for a total transaction of $1,517,132.68. Following the sale, the insider now directly owns 10,738,564 shares of the company’s stock, valued at approximately $110,392,437.92. This represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 300,192 shares of company stock valued at $3,135,086 in the last three months. Company insiders own 15.32% of the company’s stock.

Institutional Investors Weigh In On Paragon 28

Hedge funds have recently modified their holdings of the business. Barclays PLC boosted its stake in shares of Paragon 28 by 180.6% in the third quarter. Barclays PLC now owns 84,812 shares of the company’s stock valued at $567,000 after purchasing an additional 54,591 shares during the period. JPMorgan Chase & Co. increased its stake in 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 buying an additional 749,865 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Paragon 28 during the 3rd quarter worth $386,000. Millennium Management LLC boosted its position in shares of Paragon 28 by 5,834.0% in the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock worth $4,962,000 after buying an additional 713,263 shares in the last quarter. Finally, State Street Corp lifted its holdings in Paragon 28 by 2.6% in the 3rd quarter. State Street Corp now owns 1,563,331 shares of the company’s stock valued at $10,443,000 after purchasing an additional 39,075 shares in the last quarter. 63.57% of the stock is currently 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.