Inspire Investing LLC Increases Stock Position in Paragon 28, Inc. (NYSE:FNA)

Inspire Investing LLC boosted its holdings in Paragon 28, Inc. (NYSE:FNA) by 79.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,467 shares of the company’s stock after buying an additional 23,263 shares during the period. Inspire Investing LLC owned approximately 0.06% of Paragon 28 worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. purchased a new position in shares of Paragon 28 in the fourth quarter valued at $25,000. Nisa Investment Advisors LLC lifted its holdings in Paragon 28 by 46,660.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after purchasing an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in Paragon 28 in the 2nd quarter worth about $68,000. Price T Rowe Associates Inc. MD grew its holdings in Paragon 28 by 16.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock valued at $156,000 after buying an additional 1,766 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Paragon 28 during the second quarter valued at about $104,000. Institutional investors own 63.57% of the company’s stock.

Paragon 28 Stock Down 0.1 %

Shares of NYSE FNA opened at $6.87 on Friday. The company has a current ratio of 3.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average of $7.84 and a 200-day moving average of $8.34. The firm has a market capitalization of $569.87 million, a price-to-earnings ratio of -10.57 and a beta of 1.00. Paragon 28, Inc. has a 12 month low of $5.55 and a 12 month high of $14.79.

Paragon 28 (NYSE:FNA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). The business had revenue of $61.02 million during the quarter, compared to analysts’ expectations of $60.08 million. Paragon 28 had a negative net margin of 24.64% and a negative return on equity of 32.39%. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.13) EPS. Sell-side analysts expect that Paragon 28, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC cut their price objective on shares of Paragon 28 from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Piper Sandler restated an “overweight” rating and set a $12.00 price target (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Paragon 28 currently has a consensus rating of “Buy” and an average target price of $15.25.

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.