Paragon 28 (NYSE:FNA) Stock Rating Lowered by William Blair

Paragon 28 (NYSE:FNA) was downgraded by equities research analysts at William Blair from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports.

A number of other analysts also recently commented on FNA. Stephens raised Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Paragon 28 in a research report on Monday, January 13th. Finally, Canaccord Genuity Group lowered their target price on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Paragon 28 has an average rating of “Hold” and a consensus target price of $14.60.

Paragon 28 Trading Up 0.3 %

NYSE:FNA opened at $13.03 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. Paragon 28 has a one year low of $4.65 and a one year high of $14.79. The company has a market cap of $1.09 billion, a PE ratio of -17.60 and a beta of 1.50. The firm has a 50-day moving average of $10.53 and a 200-day moving average of $8.38.

Paragon 28 (NYSE:FNA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share 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 company had revenue of $62.30 million for the quarter, compared to analyst estimates of $60.58 million. During the same quarter last year, the company earned ($0.10) earnings per share. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, equities research analysts expect that Paragon 28 will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 72,133 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 10,559,065 shares in the company, valued at approximately $107,280,100.40. This represents a 0.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 300,192 shares of company stock valued at $3,135,086. Company insiders own 15.32% of the company’s stock.

Institutional Investors Weigh In On Paragon 28

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position in shares of Paragon 28 by 2.6% in the third quarter. State Street Corp now owns 1,563,331 shares of the company’s stock valued at $10,443,000 after acquiring an additional 39,075 shares during the period. Geode Capital Management LLC increased its holdings in Paragon 28 by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 967,519 shares of the company’s stock worth $6,464,000 after acquiring an additional 23,167 shares during the period. JPMorgan Chase & Co. lifted its stake in Paragon 28 by 2,141.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock worth $5,243,000 after purchasing an additional 749,865 shares in the last quarter. Millennium Management LLC boosted its holdings in Paragon 28 by 5,834.0% in the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock valued at $4,962,000 after purchasing an additional 713,263 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Paragon 28 by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 694,799 shares of the company’s stock valued at $4,641,000 after purchasing an additional 45,215 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.