UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Paragon 28, Inc. (NYSE:FNA – Free Report) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,020 shares of the company’s stock after selling 2,228 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.09% of Paragon 28 worth $501,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in FNA. Nisa Investment Advisors LLC boosted its holdings in shares of Paragon 28 by 46,660.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $32,000 after buying an additional 4,666 shares during the period. Bank of New York Mellon Corp boosted its stake in Paragon 28 by 18.1% in the second quarter. Bank of New York Mellon Corp now owns 159,822 shares of the company’s stock valued at $1,093,000 after acquiring an additional 24,440 shares during the period. Peregrine Capital Management LLC bought a new position in shares of Paragon 28 during the second quarter valued at approximately $3,351,000. Rhumbline Advisers raised its position in shares of Paragon 28 by 6.0% during the 2nd quarter. Rhumbline Advisers now owns 65,727 shares of the company’s stock worth $450,000 after purchasing an additional 3,720 shares during the period. Finally, Levin Capital Strategies L.P. bought a new stake in shares of Paragon 28 in the 2nd quarter worth approximately $68,000. Institutional investors own 63.57% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on FNA shares. Needham & Company LLC increased their target price on Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group lowered their price target on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, Stephens upgraded shares of Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Paragon 28 presently has a consensus rating of “Buy” and a consensus target price of $15.60.
Paragon 28 Trading Up 2.3 %
Paragon 28 stock opened at $10.03 on Friday. Paragon 28, Inc. has a 52 week low of $4.65 and a 52 week high of $14.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. The firm has a market capitalization of $839.71 million, a price-to-earnings ratio of -13.55 and a beta of 1.52. The company has a 50 day moving average price of $8.28 and a 200 day moving average price of $7.55.
Paragon 28 (NYSE:FNA – Get Free Report) last issued its earnings results 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. 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 during the quarter, compared to analyst estimates of $60.58 million. During the same quarter last year, the business posted ($0.10) EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. Research analysts forecast that Paragon 28, Inc. will post -0.66 EPS for the current year.
Insider Activity at Paragon 28
In related news, major shareholder Mvm Partners, Llc sold 72,133 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $10.16, for a total transaction of $732,871.28. Following the completion of the sale, the insider now directly owns 10,559,065 shares of the company’s stock, valued at approximately $107,280,100.40. This represents a 0.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 252,914 shares of company stock valued at $2,585,514. 15.32% of the stock is owned by corporate insiders.
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.
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