Inspire Investing LLC lowered its position in Paragon 28, Inc. (NYSE:FNA – Free Report) by 37.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,601 shares of the company’s stock after selling 23,547 shares during the quarter. Inspire Investing LLC’s holdings in Paragon 28 were worth $399,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Paragon 28 by 2,141.7% during the third quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock valued at $5,243,000 after acquiring an additional 749,865 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Paragon 28 by 5,834.0% during the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock valued at $4,962,000 after purchasing an additional 713,263 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Paragon 28 during the 2nd quarter valued at $869,000. Stonepine Capital Management LLC acquired a new stake in shares of Paragon 28 in the 3rd quarter valued at $766,000. Finally, Sei Investments Co. bought a new stake in Paragon 28 in the second quarter worth $531,000. 63.57% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Paragon 28
In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 20,136 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $11.63, for a total value of $234,181.68. Following the sale, the insider now directly owns 10,366,009 shares in the company, valued at $120,556,684.67. This trade represents a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 273,050 shares of company stock worth $2,819,696 in the last ninety days. 15.32% of the stock is currently owned by insiders.
Paragon 28 Trading Up 0.3 %
Paragon 28 (NYSE:FNA – Get Free Report) last released its earnings results 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 return on equity of 37.90% and a negative net margin of 25.31%. The firm had revenue of $62.30 million for the quarter, compared to analyst estimates of $60.58 million. During the same quarter last year, the firm posted ($0.10) EPS. The company’s revenue was up 18.0% on a year-over-year basis. Equities research analysts predict that Paragon 28, Inc. will post -0.64 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Canaccord Genuity Group cut their target price on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Stephens raised Paragon 28 to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Paragon 28 in a research report on Monday, January 13th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Paragon 28 currently has a consensus rating of “Buy” and an average price target of $15.60.
View Our Latest Research Report on FNA
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.
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