Paragon 28 (NYSE:FNA) Shares Gap Up – Here’s What Happened

Paragon 28, Inc. (NYSE:FNA)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $10.35, but opened at $10.85. Paragon 28 shares last traded at $10.47, with a volume of 53,716 shares traded.

Wall Street Analyst Weigh In

FNA has been the topic of a number of recent analyst reports. Stephens upgraded shares of Paragon 28 to a “strong-buy” rating in a research note on Monday, December 2nd. Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price on shares of Paragon 28 in a research report on Monday. Finally, Canaccord Genuity Group lowered their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $15.60.

Paragon 28 Trading Down 4.1 %

The stock has a market cap of $862.32 million, a PE ratio of -13.92 and a beta of 1.50. The company’s fifty day moving average is $9.98 and its 200-day moving average is $8.04. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60.

Paragon 28 (NYSE:FNA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.01. The company had revenue of $62.30 million for the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) EPS. On average, analysts predict that Paragon 28, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Activity at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 147,581 shares of Paragon 28 stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 10,738,564 shares of the company’s stock, valued at $110,392,437.92. The trade was a 1.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 252,914 shares of company stock worth $2,585,514. 15.32% of the stock is owned by corporate insiders.

Institutional Trading of Paragon 28

A number of hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew 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 valued at $178,000 after purchasing an additional 2,142 shares during the period. Rhumbline Advisers boosted its stake in shares of Paragon 28 by 6.0% in the second quarter. Rhumbline Advisers now owns 65,727 shares of the company’s stock worth $450,000 after acquiring an additional 3,720 shares during the last quarter. Commerce Bank increased its position in shares of Paragon 28 by 28.5% during the third quarter. Commerce Bank now owns 18,350 shares of the company’s stock worth $123,000 after purchasing 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 lifted its holdings 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 in 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.