Paragon 28 (NYSE:FNA) Rating Reiterated by Piper Sandler

Paragon 28 (NYSE:FNA)‘s stock had its “overweight” rating restated by Piper Sandler in a report issued on Friday, Benzinga reports. They presently have a $12.00 price target on the stock, down from their previous price target of $15.00. Piper Sandler’s price objective indicates a potential upside of 80.72% from the company’s current price.

Several other equities research analysts also recently issued reports on FNA. Needham & Company LLC lowered their price objective on shares of Paragon 28 from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Friday. JMP Securities lowered 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Paragon 28 presently has an average rating of “Buy” and a consensus target price of $15.25.

Paragon 28 Trading Down 20.1 %

FNA stock traded down $1.67 during midday trading on Friday, hitting $6.64. 2,044,191 shares of the company’s stock were exchanged, compared to its average volume of 646,397. Paragon 28 has a one year low of $5.55 and a one year high of $15.37. The stock’s fifty day moving average price is $7.20 and its 200-day moving average price is $9.47. The company has a market cap of $550.79 million, a PE ratio of -10.22 and a beta of 0.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.78 and a current ratio of 3.57.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.17). Paragon 28 had a negative return on equity of 27.72% and a negative net margin of 24.45%. The business had revenue of $61.02 million during the quarter, compared to analyst estimates of $60.08 million. During the same period in the previous year, the firm earned ($0.13) EPS. Paragon 28’s quarterly revenue was up 19.6% compared to the same quarter last year. Research analysts predict that Paragon 28 will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. bought a new stake in shares of Paragon 28 during the 4th quarter worth approximately $25,000. Nisa Investment Advisors LLC raised its position in Paragon 28 by 46,660.0% during the second quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after acquiring an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in Paragon 28 in the second quarter valued at $68,000. Price T Rowe Associates Inc. MD grew its position in shares of Paragon 28 by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock valued at $156,000 after acquiring an additional 1,766 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Paragon 28 by 26.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,886 shares of the company’s stock worth $173,000 after purchasing an additional 2,902 shares during the last quarter. 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.