Inspire Investing LLC Increases Holdings in Paragon 28, Inc. (NYSE:FNA)

Inspire Investing LLC grew its holdings in Paragon 28, Inc. (NYSE:FNA) by 18.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 62,148 shares of the company’s stock after buying an additional 9,681 shares during the quarter. Inspire Investing LLC owned approximately 0.07% of Paragon 28 worth $415,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. PNC Financial Services Group Inc. purchased a new stake in Paragon 28 in the fourth quarter worth $25,000. Nisa Investment Advisors LLC raised its holdings in Paragon 28 by 46,660.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after purchasing an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. purchased a new stake in shares of Paragon 28 in the 2nd quarter worth about $68,000. Hsbc Holdings PLC bought a new stake in shares of Paragon 28 during the 2nd quarter valued at about $104,000. Finally, SG Americas Securities LLC purchased a new position in shares of Paragon 28 during the third quarter valued at about $128,000. 63.57% of the stock is currently owned by institutional investors.

Paragon 28 Trading Down 3.9 %

Shares of NYSE FNA opened at $5.74 on Wednesday. The stock has a market cap of $476.14 million, a P/E ratio of -8.83 and a beta of 0.97. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.57 and a quick ratio of 1.70. Paragon 28, Inc. has a 1 year low of $4.84 and a 1 year high of $14.79. The firm has a 50-day moving average of $7.10 and a 200 day moving average of $7.81.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). Paragon 28 had a negative return on equity of 32.39% and a negative net margin of 24.64%. The firm had revenue of $61.02 million for the quarter, compared to analysts’ expectations of $60.08 million. During the same period in the previous year, the firm posted ($0.13) EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, sell-side analysts expect that Paragon 28, Inc. will post -0.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FNA shares. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price objective (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Needham & Company LLC lowered 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.

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.