Paragon 28 (NYSE:FNA) Sees Large Volume Increase – What’s Next?

Shares of Paragon 28, Inc. (NYSE:FNA) saw unusually-strong trading volume on Thursday . Approximately 2,066,053 shares changed hands during trading, an increase of 143% from the previous session’s volume of 851,120 shares.The stock last traded at $13.05 and had previously closed at $13.06.

Analysts Set New Price Targets

FNA has been the topic of a number of research analyst reports. Canaccord Genuity Group set a $13.00 price target on shares of Paragon 28 in a report on Wednesday, January 29th. Stephens reissued an “equal weight” rating and set a $13.00 target price (down from $14.00) on shares of Paragon 28 in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a “hold” rating and issued a $13.00 price target on shares of Paragon 28 in a report on Wednesday, January 29th. Finally, William Blair lowered Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.20.

Paragon 28 Stock Up 0.0 %

The stock’s 50 day moving average is $12.32 and its 200 day moving average is $9.50. The company has a market capitalization of $1.09 billion, a PE ratio of -17.60 and a beta of 1.54. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50.

Paragon 28 (NYSE:FNA) last posted its earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The company had revenue of $71.75 million for the quarter, compared to analysts’ expectations of $70.81 million. On average, sell-side analysts anticipate that Paragon 28, Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Mvm Partners, Llc sold 27,142 shares of Paragon 28 stock in a transaction on Monday, January 27th. The stock was sold at an average price of $11.62, for a total transaction of $315,390.04. Following the completion of the sale, the insider now owns 10,313,841 shares of the company’s stock, valued at approximately $119,846,832.42. This trade represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,875,984 shares of company stock worth $24,359,971 over the last ninety days. Company insiders own 15.32% of the company’s stock.

Institutional Trading of Paragon 28

Several institutional investors and hedge funds have recently modified their holdings of FNA. GSA Capital Partners LLP bought a new position in shares of Paragon 28 in the third quarter worth approximately $386,000. Commerce Bank increased its holdings in shares of Paragon 28 by 28.5% in the 3rd quarter. Commerce Bank now owns 18,350 shares of the company’s stock worth $123,000 after buying an additional 4,075 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Paragon 28 during the 3rd quarter valued at $70,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Paragon 28 by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 343,565 shares of the company’s stock worth $2,295,000 after acquiring an additional 15,064 shares during the last quarter. Finally, Stonepine Capital Management LLC purchased a new position in Paragon 28 in the third quarter worth $766,000. Hedge funds and other institutional investors 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.