Wellington Management Group LLP Purchases 45,215 Shares of Paragon 28, Inc. (NYSE:FNA)

Wellington Management Group LLP increased its position in Paragon 28, Inc. (NYSE:FNA) by 7.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 694,799 shares of the company’s stock after buying an additional 45,215 shares during the quarter. Wellington Management Group LLP owned 0.83% of Paragon 28 worth $4,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in Paragon 28 by 46,660.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after acquiring an additional 4,666 shares during the last quarter. Levin Capital Strategies L.P. bought a new position in Paragon 28 during the 2nd quarter worth $68,000. Intech Investment Management LLC bought a new position in Paragon 28 during the 3rd quarter worth $70,000. Ballentine Partners LLC bought a new stake in shares of Paragon 28 in the 3rd quarter valued at about $91,000. Finally, Creative Planning acquired a new stake in shares of Paragon 28 in the third quarter valued at about $91,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Stephens raised shares of Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group lowered their target price on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Needham & Company LLC boosted their target price on shares of Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $15.60.

Insider Transactions at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 4,256 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $10.00, for a total transaction of $42,560.00. Following the completion of the sale, the insider now directly owns 10,499,960 shares of the company’s stock, valued at $104,999,600. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 252,914 shares of company stock valued at $2,585,514 over the last ninety days. 15.32% of the stock is owned by company insiders.

Paragon 28 Trading Up 3.1 %

NYSE:FNA opened at $10.74 on Tuesday. The firm has a fifty day simple moving average of $7.91 and a two-hundred day simple moving average of $7.48. Paragon 28, Inc. has a 12 month low of $4.65 and a 12 month high of $14.79. The stock has a market capitalization of $899.15 million, a price-to-earnings ratio of -14.51 and a beta of 1.52. 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 issued its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) EPS. Analysts expect 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.