Paragon 28, Inc. (NYSE:FNA – Get Free Report) reached a new 52-week low during trading on Thursday after JMP Securities lowered their price target on the stock from $23.00 to $20.00. JMP Securities currently has a market outperform rating on the stock. Paragon 28 traded as low as $7.61 and last traded at $8.21, with a volume of 259666 shares changing hands. The stock had previously closed at $9.50.
A number of other research firms have also issued reports on FNA. Stephens reiterated an “overweight” rating and issued a $18.00 target price on shares of Paragon 28 in a report on Friday, April 5th. Needham & Company LLC lowered their price objective on Paragon 28 from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Piper Sandler restated an “overweight” rating and set a $15.00 target price (down from $18.00) on shares of Paragon 28 in a research note on Thursday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $16.75.
Insider Activity
In related news, insider Albert Dacosta purchased 28,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average cost of $9.12 per share, for a total transaction of $255,360.00. Following the purchase, the insider now directly owns 5,339,110 shares of the company’s stock, valued at $48,692,683.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.32% of the company’s stock.
Hedge Funds Weigh In On Paragon 28
Several institutional investors have recently bought and sold shares of FNA. Inspire Investing LLC acquired a new position in Paragon 28 during the first quarter worth $361,000. Swiss National Bank increased its holdings in shares of Paragon 28 by 12.7% in the 1st quarter. Swiss National Bank now owns 73,400 shares of the company’s stock valued at $906,000 after purchasing an additional 8,300 shares in the last quarter. Capstone Investment Advisors LLC lifted its stake in shares of Paragon 28 by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $269,000 after purchasing an additional 1,800 shares during the period. HighMark Wealth Management LLC increased its holdings in Paragon 28 by 1,107.6% in the first quarter. HighMark Wealth Management LLC now owns 96,611 shares of the company’s stock valued at $1,193,000 after buying an additional 88,611 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Paragon 28 during the 4th quarter valued at approximately $25,000. 63.57% of the stock is owned by institutional investors and hedge funds.
Paragon 28 Price Performance
The firm has a market cap of $684.01 million, a PE ratio of -14.22 and a beta of 1.12. The company has a current ratio of 4.21, a quick ratio of 2.30 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average price of $10.22 and a 200 day moving average price of $11.10.
Paragon 28 (NYSE:FNA – Get Free Report) last posted its earnings results on Thursday, February 29th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.09). The firm had revenue of $60.56 million during the quarter, compared to analyst estimates of $60.73 million. Paragon 28 had a negative net margin of 22.11% and a negative return on equity of 22.51%. On average, sell-side analysts expect that Paragon 28, Inc. will post -0.43 EPS for the current year.
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.
