Paragon 28 (NYSE:FNA) Price Target Raised to $13.00

Paragon 28 (NYSE:FNA) had its target price raised by Needham & Company LLC from $11.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Separately, Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price target (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Paragon 28 presently has a consensus rating of “Buy” and an average target price of $15.60.

Paragon 28 Stock Performance

Paragon 28 stock opened at $10.01 on Wednesday. The company has a market cap of $838.04 million, a price-to-earnings ratio of -13.53 and a beta of 1.01. Paragon 28 has a 12 month low of $4.65 and a 12 month high of $14.79. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.70. The stock’s 50-day moving average is $6.43 and its 200-day moving average is $7.24.

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 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) earnings per share. Paragon 28’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities analysts anticipate that Paragon 28 will post -0.68 earnings per share for the current year.

Institutional Investors Weigh In On Paragon 28

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Light Asset Management LLC grew its stake in shares of Paragon 28 by 115.0% during the second quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock valued at $55,916,000 after acquiring an additional 4,371,864 shares in the last quarter. Millennium Management LLC increased its holdings in Paragon 28 by 5,834.0% during the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock worth $4,962,000 after purchasing an additional 713,263 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in shares of Paragon 28 in the 2nd quarter valued at approximately $3,351,000. Janus Henderson Group PLC boosted its stake in shares of Paragon 28 by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock valued at $14,818,000 after buying an additional 273,077 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Paragon 28 by 15.4% during the second quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock worth $6,986,000 after buying an additional 135,911 shares in the last quarter. Hedge funds and other institutional investors own 63.57% of the company’s stock.

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.