Paragon 28 (NYSE:FNA) Shares Down 3.4%

Paragon 28, Inc. (NYSE:FNA) shares were down 3.4% during mid-day trading on Monday . The stock traded as low as $8.32 and last traded at $8.33. Approximately 38,641 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 600,068 shares. The stock had previously closed at $8.62.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FNA shares. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 target price (down previously from $18.00) on shares of Paragon 28 in a research note on Thursday, May 9th. JMP Securities decreased their target price on Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating for the company in a report on Thursday, May 9th. Needham & Company LLC decreased their target price on Paragon 28 from $17.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Stephens restated an “overweight” rating and set a $18.00 target price on shares of Paragon 28 in a report on Friday, April 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $16.75.

Paragon 28 Stock Down 2.0 %

The company has a current ratio of 3.57, a quick ratio of 1.78 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average price of $7.16 and a two-hundred day moving average price of $9.69.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.07). Paragon 28 had a negative net margin of 24.45% and a negative return on equity of 27.72%. The company had revenue of $61.08 million for the quarter. On average, sell-side analysts predict that Paragon 28, Inc. will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Paragon 28

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. bought a new position in shares of Paragon 28 during the fourth quarter valued at $25,000. Nisa Investment Advisors LLC boosted its position in shares of Paragon 28 by 46,660.0% during the second quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $32,000 after buying an additional 4,666 shares during the last quarter. HighMark Wealth Management LLC purchased a new stake in shares of Paragon 28 during the fourth quarter valued at $99,000. Price T Rowe Associates Inc. MD boosted its position in shares of Paragon 28 by 16.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock valued at $156,000 after buying an additional 1,766 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Paragon 28 by 26.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,886 shares of the company’s stock valued at $173,000 after buying an additional 2,902 shares during the last quarter. 63.57% of the stock is currently owned by 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.