Paragon 28 (NYSE:FNA) Shares Down 5.3%

Paragon 28, Inc. (NYSE:FNA) shares were down 5.3% during mid-day trading on Wednesday . The company traded as low as $6.31 and last traded at $6.31. Approximately 42,468 shares were traded during trading, a decline of 93% from the average daily volume of 607,095 shares. The stock had previously closed at $6.66.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FNA shares. Needham & Company LLC cut their price objective on shares of Paragon 28 from $14.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 9th. Piper Sandler reissued an “overweight” rating and issued a $12.00 target price (down from $15.00) on shares of Paragon 28 in a report on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $15.25.

Paragon 28 Price Performance

The company has a quick ratio of 1.70, a current ratio of 3.57 and a debt-to-equity ratio of 0.75. The firm’s 50 day simple moving average is $7.79 and its 200 day simple moving average is $8.25. The company has a market capitalization of $527.97 million, a PE ratio of -9.89 and a beta of 1.00.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.17) EPS for the quarter, hitting the consensus estimate of ($0.17). The company had revenue of $61.02 million during the quarter, compared to analyst estimates of $60.08 million. Paragon 28 had a negative net margin of 24.64% and a negative return on equity of 32.39%. Paragon 28’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.13) earnings per share. As a group, research analysts anticipate that Paragon 28, Inc. will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Paragon 28

A number of institutional investors have recently modified their holdings of FNA. First Light Asset Management LLC boosted its holdings in shares of Paragon 28 by 39.4% in 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 buying an additional 1,079,916 shares in the last quarter. Janus Henderson Group PLC increased its stake in Paragon 28 by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock valued at $14,818,000 after purchasing an additional 273,077 shares in the last quarter. MVM Partners LLC purchased a new stake in Paragon 28 during the fourth quarter worth $134,879,000. Peregrine Capital Management LLC purchased a new stake in Paragon 28 during the second quarter worth $3,351,000. Finally, Wellington Management Group LLP purchased a new stake in Paragon 28 during the fourth quarter worth $5,824,000. 63.57% of the stock is 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.