Paragon 28 (NYSE:FNA) Upgraded at Stephens

Stephens upgraded shares of Paragon 28 (NYSE:FNA) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other research analysts have also issued reports about the company. Canaccord Genuity Group cut their target price on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Piper Sandler restated an “overweight” rating and issued a $12.00 target price (down from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Finally, Needham & Company LLC upped their target price on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $15.60.

Paragon 28 Stock Down 3.1 %

FNA opened at $9.92 on Monday. Paragon 28 has a 1-year low of $4.65 and a 1-year high of $14.79. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $830.08 million, a price-to-earnings ratio of -13.40 and a beta of 1.52. The business has a 50 day moving average of $7.24 and a 200-day moving average of $7.33.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The company had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $60.58 million. During the same period in the prior year, the business earned ($0.10) earnings per share. Paragon 28’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Paragon 28 will post -0.66 earnings per share for the current year.

Insider Buying and Selling at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 72,133 shares of Paragon 28 stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $10.16, for a total value of $732,871.28. Following the completion of the transaction, the insider now directly owns 10,559,065 shares of the company’s stock, valued at $107,280,100.40. The trade was a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 234,805 shares of company stock valued at $2,401,889. 15.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Paragon 28 by 2.7% in the first quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company’s stock worth $26,012,000 after purchasing an additional 55,851 shares during the period. Price T Rowe Associates Inc. MD increased its position in Paragon 28 by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock worth $156,000 after purchasing an additional 1,766 shares during the period. Nisa Investment Advisors LLC increased its position in Paragon 28 by 46,660.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after purchasing an additional 4,666 shares during the period. Bank of New York Mellon Corp increased its position in Paragon 28 by 18.1% in the second quarter. Bank of New York Mellon Corp now owns 159,822 shares of the company’s stock worth $1,093,000 after purchasing an additional 24,440 shares during the period. Finally, Peregrine Capital Management LLC acquired a new stake in Paragon 28 in the second quarter worth about $3,351,000. 63.57% of the stock is 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.