Paragon 28 (NYSE:FNA) Earns “Equal Weight” Rating from Stephens

Stephens restated their equal weight rating on shares of Paragon 28 (NYSE:FNA) in a report released on Thursday,Benzinga reports. The brokerage currently has a $13.00 price target on the stock, down from their prior price target of $14.00.

FNA has been the subject of several other reports. Needham & Company LLC reiterated a “hold” rating and issued a $13.00 price objective on shares of Paragon 28 in a research report on Wednesday. Canaccord Genuity Group reiterated a “hold” rating on shares of Paragon 28 in a research note on Wednesday. Finally, William Blair downgraded Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Paragon 28 has a consensus rating of “Hold” and an average price target of $14.60.

Paragon 28 Price Performance

Shares of Paragon 28 stock opened at $13.03 on Thursday. Paragon 28 has a 52 week low of $4.65 and a 52 week high of $14.79. The company has a 50 day moving average price of $10.53 and a 200 day moving average price of $8.38. 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 posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The business had revenue of $62.30 million for the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. As a group, equities research analysts predict that Paragon 28 will post -0.64 earnings per share for the current fiscal year.

Insider Transactions at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 72,133 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $10.16, for a total transaction of $732,871.28. Following the transaction, the insider now directly owns 10,559,065 shares of the company’s stock, valued at $107,280,100.40. This represents a 0.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 300,192 shares of company stock worth $3,135,086 over the last 90 days. 15.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paragon 28

A number of institutional investors and hedge funds have recently modified their holdings of FNA. Intech Investment Management LLC acquired a new stake in shares of Paragon 28 during the third quarter valued at $70,000. Ballentine Partners LLC purchased a new stake in Paragon 28 during the third quarter worth approximately $91,000. Creative Planning acquired a new position in shares of Paragon 28 during the third quarter worth about $91,000. Hsbc Holdings PLC acquired a new position in shares of Paragon 28 during the second quarter worth $104,000. Finally, Palumbo Wealth Management LLC acquired a new stake in shares of Paragon 28 during the fourth quarter valued at about $171,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

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.