Paragon 28 (NYSE:FNA) Shares Gap Up – Still a Buy?

Shares of Paragon 28, Inc. (NYSE:FNA) gapped up prior to trading on Monday . The stock had previously closed at $10.35, but opened at $10.85. Paragon 28 shares last traded at $10.47, with a volume of 53,716 shares changing hands.

Analyst Ratings Changes

Several research firms recently commented on FNA. Canaccord Genuity Group cut their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 target price on shares of Paragon 28 in a research note on Monday. Finally, Stephens raised shares of Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $15.60.

Paragon 28 Trading Down 4.1 %

The firm has a market cap of $862.32 million, a price-to-earnings ratio of -13.92 and a beta of 1.50. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. The company has a 50 day moving average price of $9.98 and a 200 day moving average price of $8.04.

Paragon 28 (NYSE:FNA) last issued 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 firm had revenue of $62.30 million for the quarter, compared to analyst estimates of $60.58 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. Paragon 28’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) EPS. On average, research analysts expect that Paragon 28, Inc. will post -0.66 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Mvm Partners, Llc sold 72,133 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $10.16, for a total transaction of $732,871.28. Following the transaction, the insider now owns 10,559,065 shares of the company’s stock, valued at approximately $107,280,100.40. This represents a 0.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 252,914 shares of company stock valued at $2,585,514. Company insiders own 15.32% of the company’s stock.

Institutional Trading of Paragon 28

Institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in shares of Paragon 28 by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company’s stock valued at $178,000 after purchasing an additional 2,142 shares during the period. Rhumbline Advisers lifted its holdings in Paragon 28 by 6.0% during the 2nd quarter. Rhumbline Advisers now owns 65,727 shares of the company’s stock worth $450,000 after buying an additional 3,720 shares in the last quarter. Commerce Bank boosted its position in Paragon 28 by 28.5% in the 3rd quarter. Commerce Bank now owns 18,350 shares of the company’s stock valued at $123,000 after buying an additional 4,075 shares during the period. Algert Global LLC grew its stake in shares of Paragon 28 by 12.0% in the second quarter. Algert Global LLC now owns 38,793 shares of the company’s stock worth $265,000 after acquiring an additional 4,157 shares in the last quarter. Finally, XTX Topco Ltd increased its position in shares of Paragon 28 by 36.4% during the second quarter. XTX Topco Ltd now owns 22,335 shares of the company’s stock worth $153,000 after acquiring an additional 5,963 shares during the period. 63.57% of the stock is currently owned by hedge funds and other 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.