Paragon 28 (NYSE:FNA) Shares Up 4.1%

Paragon 28, Inc. (NYSE:FNA)’s share price shot up 4.1% on Wednesday . The company traded as high as $6.65 and last traded at $6.61. 112,514 shares were traded during trading, a decline of 81% from the average session volume of 606,143 shares. The stock had previously closed at $6.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price (down from $18.00) on shares of Paragon 28 in a report on Thursday, May 9th. Needham & Company LLC decreased their price target on shares of Paragon 28 from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Stephens restated an “overweight” rating and issued a $18.00 target price on shares of Paragon 28 in a research note on Friday, April 5th. Finally, JMP Securities decreased their price objective 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 data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $16.75.

Paragon 28 Price Performance

The stock has a 50-day moving average of $7.84 and a 200 day moving average of $10.39. The company has a current ratio of 3.57, a quick ratio of 1.78 and a debt-to-equity ratio of 0.67.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FNA. MVM Partners LLC bought a new stake in Paragon 28 during the fourth quarter valued at approximately $134,879,000. First Light Asset Management LLC increased its position in shares of Paragon 28 by 39.4% during the 4th quarter. First Light Asset Management LLC now owns 3,817,794 shares of the company’s stock valued at $47,455,000 after purchasing an additional 1,079,916 shares during the last quarter. Braidwell LP lifted its position in Paragon 28 by 57.4% in the 3rd quarter. Braidwell LP now owns 3,361,824 shares of the company’s stock worth $42,191,000 after buying an additional 1,225,702 shares during the last quarter. Vanguard Group Inc. grew its position in Paragon 28 by 2.7% during the first quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company’s stock valued at $26,012,000 after acquiring an additional 55,851 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake 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 acquiring an additional 273,077 shares in the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Paragon 28 Company Profile

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.