Paragon 28 (NYSE:FNA) Shares Up 5.8% – Should You Buy?

Paragon 28, Inc. (NYSE:FNA)’s stock price was up 5.8% during mid-day trading on Wednesday . The stock traded as high as $11.01 and last traded at $10.96. Approximately 263,655 shares changed hands during trading, a decline of 56% from the average daily volume of 604,324 shares. The stock had previously closed at $10.36.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Stephens upgraded Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. 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 research note on Wednesday, November 13th. Finally, Canaccord Genuity Group reduced their price target on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research note 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 MarketBeat, the company presently has an average rating of “Buy” and an average target price of $15.60.

Paragon 28 Stock Up 2.3 %

The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average price of $8.19 and a 200-day moving average price of $7.53. The firm has a market cap of $839.71 million, a P/E ratio of -13.55 and a beta of 1.52.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate 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 business had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. During the same quarter in the previous year, the business posted ($0.10) EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities analysts forecast that Paragon 28, Inc. will post -0.66 EPS for the current fiscal year.

Insider Buying and Selling at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 147,581 shares of Paragon 28 stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $10.28, for a total value of $1,517,132.68. Following the transaction, the insider now directly owns 10,738,564 shares of the company’s stock, valued at approximately $110,392,437.92. The trade was a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 252,914 shares of company stock valued at $2,585,514. 15.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paragon 28

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its holdings in shares of Paragon 28 by 46,660.0% during the second quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $32,000 after acquiring an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. acquired a new position in Paragon 28 in the 2nd quarter worth approximately $68,000. Intech Investment Management LLC acquired a new stake in shares of Paragon 28 in the third quarter worth $70,000. Ballentine Partners LLC purchased a new position in shares of Paragon 28 during the third quarter worth $91,000. Finally, Creative Planning acquired a new position in Paragon 28 during the third quarter valued at $91,000. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

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.