Paragon 28 (NYSE:FNA) Shares Gap Up – Here’s What Happened

Paragon 28, Inc. (NYSE:FNA) shares gapped up prior to trading on Monday . The stock had previously closed at $10.35, but opened at $10.85. Paragon 28 shares last traded at $10.47, with a volume of 53,716 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FNA. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price target on shares of Paragon 28 in a research note on Monday. Stephens raised shares of Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group decreased their price objective 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. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $15.60.

Paragon 28 Trading Up 3.2 %

The business’s 50-day moving average price is $9.80 and its 200-day moving average price is $7.99. The firm has a market capitalization of $894.13 million, a PE ratio of -14.43 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 issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping 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 company had revenue of $62.30 million for the quarter, compared to the consensus estimate of $60.58 million. During the same period last year, the firm posted ($0.10) EPS. Paragon 28’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, analysts expect that Paragon 28, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 147,581 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $10.28, for a total value of $1,517,132.68. Following the transaction, the insider now 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 SEC, which is accessible through this hyperlink. Insiders sold a total of 252,914 shares of company stock valued at $2,585,514 in the last ninety days. Insiders own 15.32% of the company’s stock.

Institutional Investors Weigh In On Paragon 28

Several hedge funds have recently modified their holdings of FNA. Intech Investment Management LLC purchased a new position in Paragon 28 during the 3rd quarter worth $70,000. Ballentine Partners LLC acquired a new position in shares of Paragon 28 during the third quarter worth about $91,000. Creative Planning purchased a new position in Paragon 28 during the third quarter worth about $91,000. Hsbc Holdings PLC acquired a new stake in Paragon 28 in the second quarter valued at about $104,000. Finally, Commerce Bank boosted its holdings in Paragon 28 by 28.5% in the 3rd quarter. Commerce Bank now owns 18,350 shares of the company’s stock valued at $123,000 after purchasing an additional 4,075 shares in the last quarter. 63.57% of the stock is owned by institutional investors and hedge funds.

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.