Paragon 28 (NYSE:FNA) Trading Up 8.1%

Shares of Paragon 28, Inc. (NYSE:FNA) were up 8.1% during trading on Monday . The company traded as high as $7.41 and last traded at $7.18. Approximately 96,677 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 642,827 shares. The stock had previously closed at $6.64.

Analyst Ratings Changes

A number of analysts recently commented on FNA shares. Needham & Company LLC lowered their target price on shares of Paragon 28 from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 9th. JMP Securities reduced their price target on shares of Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating for the company in a research report on Thursday, May 9th. Finally, Piper Sandler reissued an “overweight” rating and set a $12.00 price target (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Paragon 28 currently has a consensus rating of “Buy” and a consensus price target of $15.25.

Paragon 28 Stock Up 3.2 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.78 and a current ratio of 3.57. The business’s 50 day moving average is $7.20 and its 200-day moving average is $9.39. The stock has a market cap of $615.50 million, a price-to-earnings ratio of -11.42 and a beta of 0.99.

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

Institutional Investors Weigh In On Paragon 28

A number of large investors have recently modified their holdings of the business. MVM Partners LLC purchased a new stake in shares of Paragon 28 during the fourth quarter worth $134,879,000. First Light Asset Management LLC grew its holdings in shares of Paragon 28 by 39.4% during the fourth quarter. First Light Asset Management LLC now owns 3,817,794 shares of the company’s stock worth $47,455,000 after buying an additional 1,079,916 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Paragon 28 by 2.7% during the first quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company’s stock worth $26,012,000 after buying an additional 55,851 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Paragon 28 by 29.5% during the first quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock worth $14,818,000 after buying an additional 273,077 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Paragon 28 by 15.4% during the second quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock worth $6,986,000 after buying an additional 135,911 shares in the last quarter. 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.