Paragon 28 (NYSE:FNA) Earns “Buy” Rating from Needham & Company LLC

Paragon 28 (NYSE:FNA)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They presently have a $13.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 26.21% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Canaccord Genuity Group cut their price objective on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Stephens raised Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $15.60.

Paragon 28 Trading Down 4.1 %

Shares of Paragon 28 stock opened at $10.30 on Monday. Paragon 28 has a 12-month low of $4.65 and a 12-month high of $14.79. 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 business’s 50 day moving average is $9.98 and its 200-day moving average is $8.04. The stock has a market cap of $862.32 million, a P/E ratio of -13.92 and a beta of 1.50.

Paragon 28 (NYSE:FNA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $60.58 million. During the same period in the previous year, the business earned ($0.10) EPS. Paragon 28’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities research analysts predict that Paragon 28 will post -0.66 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Mvm Partners, Llc sold 147,581 shares of Paragon 28 stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $10.28, for a total value of $1,517,132.68. Following the completion of the sale, the insider now directly owns 10,738,564 shares in the company, valued at approximately $110,392,437.92. The trade was a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 252,914 shares of company stock valued at $2,585,514. 15.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Paragon 28

A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Paragon 28 by 9.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company’s stock worth $178,000 after purchasing an additional 2,142 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Paragon 28 by 6.0% in the 2nd quarter. Rhumbline Advisers now owns 65,727 shares of the company’s stock valued at $450,000 after purchasing an additional 3,720 shares during the last quarter. Commerce Bank raised its stake in Paragon 28 by 28.5% during the third quarter. Commerce Bank now owns 18,350 shares of the company’s stock worth $123,000 after acquiring an additional 4,075 shares in the last quarter. Algert Global LLC grew its holdings in shares of Paragon 28 by 12.0% during the 2nd quarter. Algert Global LLC now owns 38,793 shares of the company’s stock valued at $265,000 after purchasing an additional 4,157 shares during the last quarter. Finally, XTX Topco Ltd increased its position in Paragon 28 by 36.4% during the 2nd quarter. XTX Topco Ltd now owns 22,335 shares of the company’s stock worth $153,000 after purchasing an additional 5,963 shares in the last quarter. Institutional investors own 63.57% of the company’s stock.

About Paragon 28

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.