Paragon 28 (NYSE:FNA) Earns Hold Rating from Needham & Company LLC

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

A number of other research firms have also weighed in on FNA. William Blair lowered Paragon 28 from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Stephens raised Paragon 28 to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Canaccord Genuity Group decreased their target price on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.60.

Paragon 28 Stock Down 0.0 %

Shares of FNA opened at $13.03 on Wednesday. Paragon 28 has a 1 year low of $4.65 and a 1 year high of $14.79. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. The stock has a 50 day simple moving average of $10.59 and a two-hundred day simple moving average of $8.42. The firm has a market cap of $1.09 billion, a P/E ratio of -17.60 and a beta of 1.50.

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

Insider Activity at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 4,256 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $10.00, for a total value of $42,560.00. Following the completion of the sale, the insider now directly owns 10,499,960 shares of the company’s stock, valued at approximately $104,999,600. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 300,192 shares of company stock worth $3,135,086 over the last quarter. 15.32% of the stock is owned by corporate insiders.

Institutional Trading of Paragon 28

Large investors have recently bought and sold shares of the company. Barclays PLC boosted its position in shares of Paragon 28 by 180.6% during 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Paragon 28 by 2,141.7% during 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 in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Paragon 28 in the 3rd quarter worth about $386,000. Millennium Management LLC increased its stake 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 acquiring an additional 713,263 shares in the last quarter. Finally, State Street Corp lifted its position in Paragon 28 by 2.6% during the 3rd quarter. State Street Corp now owns 1,563,331 shares of the company’s stock valued at $10,443,000 after acquiring an additional 39,075 shares during the period. 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.