Paragon 28 (NYSE:FNA) Receives “Hold” Rating from Needham & Company LLC

Paragon 28 (NYSE:FNA)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $13.00 price target on the stock. Needham & Company LLC’s target price suggests a potential downside of 0.19% from the company’s previous close.

Several other research analysts have also recently commented on the stock. Stephens raised shares of Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group dropped their price objective 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. Finally, William Blair cut Paragon 28 from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Paragon 28 has an average rating of “Moderate Buy” and an average price target of $15.60.

Paragon 28 Stock Up 8.5 %

Shares of Paragon 28 stock traded up $1.03 on Wednesday, reaching $13.03. 10,977,940 shares of the company were exchanged, compared to its average volume of 1,106,018. Paragon 28 has a one year low of $4.65 and a one 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 company has a 50-day moving average of $10.48 and a 200 day moving average of $8.35. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -17.60 and a beta of 1.50.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $62.30 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) EPS. On average, equities research analysts forecast that Paragon 28 will post -0.64 earnings per share for the current year.

Insider Activity

In related news, major shareholder Mvm Partners, Llc sold 72,133 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $10.16, for a total transaction of $732,871.28. Following the completion of the sale, the insider now directly owns 10,559,065 shares of the company’s stock, valued at approximately $107,280,100.40. This trade represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 273,050 shares of company stock worth $2,819,696 over the last three months. 15.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paragon 28

Several institutional investors have recently bought and sold shares of FNA. Renaissance Technologies LLC bought a new position in Paragon 28 during the second quarter worth about $419,000. Hsbc Holdings PLC bought a new position in Paragon 28 in the 2nd quarter worth approximately $104,000. Sei Investments Co. purchased a new position in shares of Paragon 28 in the second quarter valued at $531,000. Cubist Systematic Strategies LLC purchased a new position in Paragon 28 during the 2nd quarter valued at about $869,000. Finally, Squarepoint Ops LLC increased its holdings in Paragon 28 by 87.9% during the 2nd quarter. Squarepoint Ops LLC now owns 129,576 shares of the company’s stock worth $886,000 after acquiring an additional 60,628 shares during the period. Hedge funds and other institutional investors own 63.57% of the company’s stock.

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.