HighTower Advisors LLC Sells 3,190 Shares of Paragon 28, Inc. (NYSE:FNA)

HighTower Advisors LLC reduced its position in Paragon 28, Inc. (NYSE:FNA) by 20.6% during the third quarter, Holdings Channel reports. The institutional investor owned 12,328 shares of the company’s stock after selling 3,190 shares during the quarter. HighTower Advisors LLC’s holdings in Paragon 28 were worth $83,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Stonepine Capital Management LLC acquired a new stake in Paragon 28 in the third quarter valued at approximately $766,000. Charles Schwab Investment Management Inc. increased its position in shares of Paragon 28 by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 343,565 shares of the company’s stock worth $2,295,000 after purchasing an additional 15,064 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Paragon 28 in the third quarter valued at about $70,000. Commerce Bank boosted its stake in Paragon 28 by 28.5% in the 3rd quarter. Commerce Bank now owns 18,350 shares of the company’s stock worth $123,000 after purchasing an additional 4,075 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Paragon 28 during the third quarter worth $386,000. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Analyst Upgrades and Downgrades

FNA has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their target price on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Needham & Company LLC raised their target price on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Stephens raised shares of Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $15.60.

Insider Activity at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 72,133 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $10.16, for a total value of $732,871.28. Following the transaction, the insider now owns 10,559,065 shares of the company’s stock, valued at $107,280,100.40. This represents a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 252,914 shares of company stock worth $2,585,514. Insiders own 15.32% of the company’s stock.

Paragon 28 Stock Up 0.8 %

Shares of NYSE FNA opened at $10.35 on Friday. The stock has a market cap of $866.50 million, a PE ratio of -13.99 and a beta of 1.52. The company has a 50-day moving average of $8.54 and a 200 day moving average of $7.62. Paragon 28, Inc. has a 12-month low of $4.65 and a 12-month high of $14.79. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79.

Paragon 28 (NYSE:FNA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The firm had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. Paragon 28’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, sell-side analysts predict that Paragon 28, Inc. will post -0.66 EPS for the current fiscal year.

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.