Paragon 28 (NYSE:FNA) Given “Buy” Rating at Needham & Company LLC

Paragon 28 (NYSE:FNA)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $13.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 20.82% from the stock’s previous close.

FNA has been the topic of several other research reports. Stephens upgraded Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group reduced 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. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Stock Up 4.0 %

Shares of FNA traded up $0.41 during trading hours on Monday, reaching $10.76. The company’s stock had a trading volume of 165,676 shares, compared to its average volume of 451,982. The firm has a market cap of $900.83 million, a price-to-earnings ratio of -14.54 and a beta of 1.50. The company has a 50 day moving average of $9.80 and a two-hundred day moving average of $7.99. Paragon 28 has a 1-year low of $4.65 and a 1-year high of $14.79. 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 announced its earnings results 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 return on equity of 37.90% and a negative net margin of 25.31%. The firm had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $60.58 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. The company’s revenue was up 18.0% on a year-over-year basis. As a group, research analysts predict that Paragon 28 will post -0.66 EPS for the current fiscal year.

Insider Buying and Selling at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 72,133 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $10.16, for a total transaction of $732,871.28. Following the sale, the insider now directly owns 10,559,065 shares of the company’s stock, valued at $107,280,100.40. This trade represents a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 252,914 shares of company stock worth $2,585,514 over the last 90 days. Corporate insiders own 15.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in Paragon 28 by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company’s stock worth $178,000 after purchasing an additional 2,142 shares in the last quarter. Rhumbline Advisers boosted its position in Paragon 28 by 6.0% in the 2nd quarter. Rhumbline Advisers now owns 65,727 shares of the company’s stock worth $450,000 after purchasing an additional 3,720 shares in the last quarter. Commerce Bank lifted its position in shares of Paragon 28 by 28.5% during the 3rd quarter. Commerce Bank now owns 18,350 shares of the company’s stock valued at $123,000 after buying an additional 4,075 shares in the last quarter. Algert Global LLC raised its stake in Paragon 28 by 12.0% in the 2nd quarter. Algert Global LLC now owns 38,793 shares of the company’s stock valued at $265,000 after purchasing an additional 4,157 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in Paragon 28 by 36.4% in the 2nd quarter. XTX Topco Ltd now owns 22,335 shares of the company’s stock valued at $153,000 after purchasing an additional 5,963 shares during the last quarter. 63.57% of the stock is owned by hedge funds and other institutional investors.

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.