JPMorgan Chase & Co. Purchases 749,865 Shares of Paragon 28, Inc. (NYSE:FNA)

JPMorgan Chase & Co. boosted its stake in Paragon 28, Inc. (NYSE:FNA) by 2,141.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 784,878 shares of the company’s stock after buying an additional 749,865 shares during the period. JPMorgan Chase & Co. owned 0.94% of Paragon 28 worth $5,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in shares of Paragon 28 during the third quarter valued at approximately $70,000. Ballentine Partners LLC purchased a new position in shares of Paragon 28 in the third quarter worth approximately $91,000. Creative Planning bought a new stake in Paragon 28 during the third quarter valued at approximately $91,000. Hsbc Holdings PLC purchased a new stake in Paragon 28 during the second quarter valued at approximately $104,000. Finally, Commerce Bank raised its position in Paragon 28 by 28.5% in 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 during the period. 63.57% of the stock is owned by hedge funds and other institutional investors.

Paragon 28 Price Performance

Shares of NYSE:FNA opened at $10.60 on Friday. Paragon 28, Inc. has a fifty-two week low of $4.65 and a fifty-two 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 fifty day moving average price of $10.11 and a 200 day moving average price of $8.08. The firm has a market cap of $887.18 million, a price-to-earnings ratio of -14.32 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) EPS for the quarter, beating 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 business 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 earned ($0.10) earnings per share. Paragon 28’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, sell-side analysts expect that Paragon 28, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Mvm Partners, Llc sold 72,133 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $10.16, for a total value of $732,871.28. Following the sale, the insider now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 252,914 shares of company stock worth $2,585,514 over the last three months. 15.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FNA has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Paragon 28 in a research report on Monday. Stephens raised Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group dropped their price objective 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 issued a strong buy rating to the stock. According to data from MarketBeat, Paragon 28 has a consensus rating of “Buy” and a consensus price target of $15.60.

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.