Wellington Management Group LLP Takes $5.82 Million Position in Paragon 28, Inc. (NYSE:FNA)

Wellington Management Group LLP bought a new stake in Paragon 28, Inc. (NYSE:FNA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 468,584 shares of the company’s stock, valued at approximately $5,824,000. Wellington Management Group LLP owned approximately 0.57% of Paragon 28 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MVM Partners LLC bought a new position in shares of Paragon 28 during the 4th quarter worth about $134,879,000. First Light Asset Management LLC lifted its stake in Paragon 28 by 39.4% during the fourth quarter. First Light Asset Management LLC now owns 3,817,794 shares of the company’s stock worth $47,455,000 after purchasing an additional 1,079,916 shares during the period. Braidwell LP boosted its holdings in Paragon 28 by 57.4% during the third quarter. Braidwell LP now owns 3,361,824 shares of the company’s stock valued at $42,191,000 after purchasing an additional 1,225,702 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Paragon 28 by 12.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,001,692 shares of the company’s stock valued at $25,121,000 after purchasing an additional 217,246 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Paragon 28 by 27.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 307,759 shares of the company’s stock worth $3,862,000 after buying an additional 66,473 shares in the last quarter. 63.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price target (down from $18.00) on shares of Paragon 28 in a research report on Thursday, May 9th. JMP Securities dropped their target price on shares of Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating for the company in a research report on Thursday, May 9th. Stephens restated an “overweight” rating and issued a $18.00 price target on shares of Paragon 28 in a research report on Friday, April 5th. Finally, Needham & Company LLC dropped their price objective on shares of Paragon 28 from $17.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $16.75.

Paragon 28 Stock Up 2.7 %

Shares of NYSE FNA opened at $6.83 on Friday. Paragon 28, Inc. has a 12-month low of $5.55 and a 12-month high of $18.50. The firm’s 50-day simple moving average is $7.79 and its 200 day simple moving average is $10.36. The company has a quick ratio of 1.78, a current ratio of 3.57 and a debt-to-equity ratio of 0.67. The company has a market cap of $566.56 million, a price-to-earnings ratio of -10.51 and a beta of 1.02.

Paragon 28 (NYSE:FNA) last announced its earnings results on Wednesday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). The company had revenue of $61.08 million for the quarter. Paragon 28 had a negative return on equity of 27.72% and a negative net margin of 24.45%. On average, research analysts expect that Paragon 28, Inc. will post -0.58 earnings per share for the current fiscal year.

Paragon 28 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.