Brokerages Set Paragon 28, Inc. (NYSE:FNA) Price Target at $15.60

Shares of Paragon 28, Inc. (NYSE:FNA) have been assigned a consensus rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $14.60.

Several equities analysts have recently commented on the company. William Blair lowered Paragon 28 from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Stephens reiterated an “equal weight” rating and issued a $13.00 target price (down from $14.00) on shares of Paragon 28 in a report on Thursday. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Paragon 28 in a research note on Wednesday. Finally, Needham & Company LLC restated a “hold” rating and issued a $13.00 target price on shares of Paragon 28 in a report on Wednesday.

Insider Transactions at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 27,142 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $11.62, for a total value of $315,390.04. Following the sale, the insider now owns 10,313,841 shares in the company, valued at approximately $119,846,832.42. The trade was a 0.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 300,192 shares of company stock worth $3,135,086 in the last three months. Insiders own 15.32% of the company’s stock.

Hedge Funds Weigh In On Paragon 28

A number of institutional investors and hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund raised its stake in Paragon 28 by 374.6% during the 4th quarter. New York State Common Retirement Fund now owns 14,570 shares of the company’s stock worth $151,000 after buying an additional 11,500 shares during the period. Peregrine Capital Management LLC raised its stake in shares of Paragon 28 by 1.8% during the 4th quarter. Peregrine Capital Management LLC now owns 500,094 shares of the company’s stock valued at $5,166,000 after purchasing an additional 9,079 shares during the period. Venturi Wealth Management LLC bought a new position in Paragon 28 in the 4th quarter valued at $36,000. MN Wealth Advisors LLC grew its holdings in shares of Paragon 28 by 1.4% during the fourth quarter. MN Wealth Advisors LLC now owns 84,535 shares of the company’s stock worth $873,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Palumbo Wealth Management LLC purchased a new position in shares of Paragon 28 in the 4th quarter worth about $171,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

Paragon 28 Stock Performance

Paragon 28 stock opened at $13.03 on Wednesday. The firm’s fifty day moving average price is $10.59 and its 200-day moving average price is $8.42. The stock has a market cap of $1.09 billion, a P/E ratio of -17.60 and a beta of 1.50. Paragon 28 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.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings results 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 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 analysts’ expectations of $60.58 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts expect that Paragon 28 will post -0.64 earnings per share for the current fiscal year.

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.