Paragon 28 (NYSE:FNA) Trading 7.8% Higher

Paragon 28, Inc. (NYSE:FNA)’s share price rose 7.8% during mid-day trading on Friday . The stock traded as high as $8.43 and last traded at $8.40. Approximately 63,070 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 637,047 shares. The stock had previously closed at $7.79.

Wall Street Analysts Forecast Growth

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

Paragon 28 Price Performance

The company has a market cap of $710.06 million, a price-to-earnings ratio of -13.17 and a beta of 0.99. 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 business has a 50-day moving average price of $7.38 and a 200 day moving average price of $9.12.

Paragon 28 (NYSE:FNA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates 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 quarter last year, the company posted ($0.13) EPS. Paragon 28’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, research analysts expect that Paragon 28, Inc. will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paragon 28

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FNA. PNC Financial Services Group Inc. acquired a new position in Paragon 28 during the fourth quarter valued at $25,000. Nisa Investment Advisors LLC grew its stake in Paragon 28 by 46,660.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $32,000 after acquiring an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. purchased a new position in Paragon 28 during the 2nd quarter valued at about $68,000. Price T Rowe Associates Inc. MD increased its holdings 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 purchasing an additional 1,766 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Paragon 28 by 26.4% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

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.