Paragon 28’s (FNA) Hold Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their hold rating on shares of Paragon 28 (NYSE:FNA) in a report issued on Wednesday morning,Benzinga reports.

Several other analysts have also recently weighed in on FNA. William Blair cut Paragon 28 from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Stephens raised Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Paragon 28 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.60.

Paragon 28 Trading Up 8.3 %

Shares of FNA stock opened at $13.00 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. Paragon 28 has a 52-week low of $4.65 and a 52-week high of $14.79. The company has a market capitalization of $1.09 billion, a PE ratio of -17.56 and a beta of 1.50. The business’s fifty day moving average is $10.48 and its 200 day moving average is $8.35.

Paragon 28 (NYSE:FNA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) earnings per share. On average, equities research analysts anticipate that Paragon 28 will post -0.64 EPS for the current fiscal year.

Insider Transactions at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 4,256 shares of Paragon 28 stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $10.00, for a total transaction of $42,560.00. Following the transaction, the insider now directly owns 10,499,960 shares of the company’s stock, valued at $104,999,600. This trade represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 300,192 shares of company stock valued at $3,135,086. 15.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Paragon 28

Several institutional investors and hedge funds have recently bought and sold shares of FNA. Ballentine Partners LLC boosted its holdings in Paragon 28 by 15.0% in the 4th quarter. Ballentine Partners LLC now owns 15,630 shares of the company’s stock valued at $161,000 after purchasing an additional 2,043 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Paragon 28 by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company’s stock valued at $178,000 after purchasing an additional 2,142 shares during the last quarter. Commerce Bank grew its position in shares of 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 buying an additional 4,075 shares during the last quarter. Algert Global LLC grew its position in shares of Paragon 28 by 12.0% in the 2nd quarter. Algert Global LLC now owns 38,793 shares of the company’s stock valued at $265,000 after buying an additional 4,157 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Paragon 28 by 40.1% during the 4th quarter. SG Americas Securities LLC now owns 26,754 shares of the company’s stock worth $276,000 after purchasing an additional 7,653 shares during the last quarter. 63.57% of the stock is 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.