State Street Corp Acquires 39,075 Shares of Paragon 28, Inc. (NYSE:FNA)

State Street Corp lifted its holdings in Paragon 28, Inc. (NYSE:FNA) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,563,331 shares of the company’s stock after buying an additional 39,075 shares during the period. State Street Corp owned approximately 1.87% of Paragon 28 worth $10,443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Millennium Management LLC raised its position in Paragon 28 by 5,834.0% in the second quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock worth $4,962,000 after acquiring an additional 713,263 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Paragon 28 during the 3rd quarter worth approximately $386,000. Peregrine Capital Management LLC bought a new stake in shares of Paragon 28 in the 2nd quarter worth approximately $3,351,000. First Light Asset Management LLC lifted its stake in Paragon 28 by 115.0% in 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 purchasing an additional 4,371,864 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Paragon 28 by 15.4% in the second quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock valued at $6,986,000 after purchasing an additional 135,911 shares during the last quarter. 63.57% of the stock is owned by hedge funds and other institutional investors.

Paragon 28 Trading Up 0.8 %

NYSE:FNA opened at $10.35 on Friday. The stock has a market cap of $866.50 million, a price-to-earnings ratio of -13.99 and a beta of 1.52. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average price is $8.54 and its 200-day moving average price is $7.62. Paragon 28, Inc. has a 52 week low of $4.65 and a 52 week high of $14.79.

Paragon 28 (NYSE:FNA) last announced its quarterly 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 return on equity of 37.90% and a negative net margin of 25.31%. The firm had revenue of $62.30 million for the quarter, compared to the consensus estimate of $60.58 million. During the same period in the prior year, the company posted ($0.10) earnings per share. The company’s quarterly revenue was up 18.0% on a year-over-year basis. On average, equities research analysts forecast that Paragon 28, Inc. will post -0.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FNA shares. Stephens upgraded Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Needham & Company LLC raised their price target on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group dropped their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Paragon 28 has an average rating of “Buy” and an average target price of $15.60.

Insider Transactions at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 18,109 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $10.14, for a total transaction of $183,625.26. Following the completion of the transaction, the insider now owns 10,481,851 shares in the company, valued at approximately $106,285,969.14. This represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 252,914 shares of company stock worth $2,585,514 in the last ninety days. Insiders own 15.32% 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.