First Light Asset Management LLC Boosts Stake in Paragon 28, Inc. (NYSE:FNA)

First Light Asset Management LLC raised its position in shares of Paragon 28, Inc. (NYSE:FNA) by 115.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,174,832 shares of the company’s stock after purchasing an additional 4,371,864 shares during the quarter. Paragon 28 accounts for approximately 4.9% of First Light Asset Management LLC’s holdings, making the stock its biggest position. First Light Asset Management LLC owned about 9.86% of Paragon 28 worth $55,916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC boosted its stake in shares of Paragon 28 by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock worth $14,818,000 after acquiring an additional 273,077 shares during the last quarter. MVM Partners LLC bought a new stake in Paragon 28 during the fourth quarter valued at about $134,879,000. Peregrine Capital Management LLC purchased a new stake in Paragon 28 in the second quarter worth about $3,351,000. Wellington Management Group LLP bought a new position in shares of Paragon 28 in the fourth quarter worth about $5,824,000. Finally, Vanguard Group Inc. lifted its position in shares of Paragon 28 by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company’s stock valued at $26,012,000 after buying an additional 55,851 shares in the last quarter. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Paragon 28 Trading Down 4.4 %

Shares of FNA stock opened at $6.57 on Tuesday. The stock’s 50-day moving average price is $7.82 and its 200-day moving average price is $8.28. Paragon 28, Inc. has a 12-month low of $5.55 and a 12-month high of $14.79. The stock has a market capitalization of $544.99 million, a price-to-earnings ratio of -10.11 and a beta of 1.00. The company has a current ratio of 3.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.75.

Paragon 28 (NYSE:FNA) last posted its earnings results on Thursday, August 8th. The company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). The firm had revenue of $61.02 million during the quarter, compared to the consensus estimate of $60.08 million. Paragon 28 had a negative return on equity of 32.39% and a negative net margin of 24.64%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.13) EPS. Equities research analysts predict that Paragon 28, Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FNA has been the topic of several recent analyst reports. Piper Sandler restated an “overweight” rating and set a $12.00 price objective (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Needham & Company LLC reduced their price objective on shares of Paragon 28 from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target 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.