Bank of New York Mellon Corp Has $1.09 Million Stake in Paragon 28, Inc. (NYSE:FNA)

Bank of New York Mellon Corp lifted its stake in Paragon 28, Inc. (NYSE:FNA) by 18.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 159,822 shares of the company’s stock after purchasing an additional 24,440 shares during the quarter. Bank of New York Mellon Corp owned 0.19% of Paragon 28 worth $1,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new stake in Paragon 28 in the 4th quarter worth approximately $25,000. Nisa Investment Advisors LLC boosted its position in 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 purchasing an additional 4,666 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Paragon 28 by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock valued at $156,000 after purchasing an additional 1,766 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in Paragon 28 in the 4th quarter worth about $249,000. Finally, Aristides Capital LLC purchased a new stake in shares of Paragon 28 during the 4th quarter worth about $256,000. 63.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FNA has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating and issued a $12.00 price target (down previously from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Needham & Company LLC dropped their price target on shares of Paragon 28 from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Paragon 28 currently has an average rating of “Buy” and a consensus price target of $15.25.

Paragon 28 Stock Down 0.1 %

Shares of FNA stock opened at $6.87 on Friday. The stock’s 50 day simple moving average is $7.84 and its 200 day simple moving average is $8.35. Paragon 28, Inc. has a twelve month low of $5.55 and a twelve month high of $14.79. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.70 and a current ratio of 3.57. The company has a market capitalization of $569.87 million, a price-to-earnings ratio of -10.57 and a beta of 1.00.

Paragon 28 (NYSE:FNA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). Paragon 28 had a negative net margin of 24.64% and a negative return on equity of 32.39%. The company had revenue of $61.02 million for the quarter, compared to analyst estimates of $60.08 million. During the same quarter last year, the firm posted ($0.13) earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, research analysts predict that Paragon 28, Inc. will post -0.69 EPS for the current year.

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.