Paragon 28’s (FNA) “Buy” Rating Reiterated at Needham & Company LLC

Paragon 28 (NYSE:FNA)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They currently have a $13.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 26.21% from the stock’s current price.

FNA has been the topic of several other research reports. Stephens upgraded shares of Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group decreased their target price on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Paragon 28 presently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Stock Down 4.1 %

Shares of NYSE:FNA opened at $10.30 on Monday. The business’s 50-day moving average is $9.98 and its 200-day moving average is $8.04. Paragon 28 has a 1 year low of $4.65 and a 1 year high of $14.79. The company has a market capitalization 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 current ratio of 3.50 and a quick ratio of 1.60.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.10) EPS. Equities research analysts predict that Paragon 28 will post -0.66 earnings per share for the current year.

Insider Buying and Selling at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 72,133 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $10.16, for a total transaction of $732,871.28. Following the completion of the sale, the insider now directly owns 10,559,065 shares of the company’s stock, valued at approximately $107,280,100.40. The trade was a 0.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 252,914 shares of company stock valued at $2,585,514. Corporate insiders own 15.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FNA. JPMorgan Chase & Co. raised its position in Paragon 28 by 2,141.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock valued at $5,243,000 after buying an additional 749,865 shares during the last quarter. Barclays PLC raised its holdings in shares of Paragon 28 by 180.6% in the third quarter. Barclays PLC now owns 84,812 shares of the company’s stock valued at $567,000 after purchasing an additional 54,591 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Paragon 28 by 2.5% during the third quarter. Geode Capital Management LLC now owns 967,519 shares of the company’s stock valued at $6,464,000 after purchasing an additional 23,167 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Paragon 28 by 7.0% during the third quarter. Wellington Management Group LLP now owns 694,799 shares of the company’s stock worth $4,641,000 after purchasing an additional 45,215 shares during the last quarter. Finally, State Street Corp boosted its holdings in Paragon 28 by 2.6% during the third quarter. State Street Corp now owns 1,563,331 shares of the company’s stock worth $10,443,000 after purchasing an additional 39,075 shares during the last quarter. Hedge funds and other institutional investors own 63.57% of the company’s stock.

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.