Arizona State Retirement System Sells 1,032 Shares of Paragon 28, Inc. (NYSE:FNA)

Arizona State Retirement System decreased its holdings in Paragon 28, Inc. (NYSE:FNA) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,911 shares of the company’s stock after selling 1,032 shares during the period. Arizona State Retirement System’s holdings in Paragon 28 were worth $113,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp increased its stake in Paragon 28 by 2.6% in the third quarter. State Street Corp now owns 1,563,331 shares of the company’s stock worth $10,443,000 after purchasing an additional 39,075 shares during the period. Geode Capital Management LLC increased its stake in Paragon 28 by 2.5% in the third quarter. Geode Capital Management LLC now owns 967,519 shares of the company’s stock worth $6,464,000 after purchasing an additional 23,167 shares during the period. JPMorgan Chase & Co. increased its stake in Paragon 28 by 2,141.7% in the third 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 during the period. Wellington Management Group LLP increased its stake in Paragon 28 by 7.0% in the third quarter. Wellington Management Group LLP now owns 694,799 shares of the company’s stock worth $4,641,000 after purchasing an additional 45,215 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in Paragon 28 by 1.8% in the fourth quarter. Peregrine Capital Management LLC now owns 500,094 shares of the company’s stock worth $5,166,000 after purchasing an additional 9,079 shares during the period. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Paragon 28 Price Performance

FNA opened at $13.03 on Monday. The business’s 50-day moving average is $12.32 and its two-hundred day moving average is $9.52. Paragon 28, Inc. has a 1 year low of $4.65 and a 1 year high of $13.13. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. The firm has a market capitalization of $1.09 billion, a PE ratio of -17.60 and a beta of 1.54.

Paragon 28 (NYSE:FNA) last posted its earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) 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 $71.75 million during the quarter, compared to analysts’ expectations of $70.81 million. Research analysts anticipate that Paragon 28, Inc. will post -0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on FNA shares. Needham & Company LLC restated a “hold” rating and set a $13.00 price target on shares of Paragon 28 in a research note on Wednesday, January 29th. Stephens restated an “equal weight” rating and set a $13.00 price target (down previously from $14.00) on shares of Paragon 28 in a research note on Thursday, January 30th. Canaccord Genuity Group set a $13.00 price target on Paragon 28 in a research note on Wednesday, January 29th. Finally, William Blair lowered Paragon 28 from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.20.

Insider Buying and Selling at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 1,044,295 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $13.04, for a total value of $13,617,606.80. Following the completion of the sale, the insider now owns 7,810,588 shares of the company’s stock, valued at approximately $101,850,067.52. This trade represents a 11.79 % 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 the SEC website. Insiders have sold 1,875,984 shares of company stock worth $24,359,971 over the last quarter. 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.