Renaissance Technologies LLC Buys New Stake in Paragon 28, Inc. (NYSE:FNA)

Renaissance Technologies LLC purchased a new position in shares of Paragon 28, Inc. (NYSE:FNA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 61,200 shares of the company’s stock, valued at approximately $419,000. Renaissance Technologies LLC owned approximately 0.07% of Paragon 28 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in FNA. Janus Henderson Group PLC lifted 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 purchasing an additional 273,077 shares during the period. Peregrine Capital Management LLC acquired a new stake in Paragon 28 in the 2nd quarter worth about $3,351,000. Wellington Management Group LLP purchased a new stake in Paragon 28 in the 4th quarter valued at about $5,824,000. Vanguard Group Inc. increased its stake 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 acquiring an additional 55,851 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of 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 acquiring an additional 4,666 shares during the period. 63.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FNA has been the subject of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price target (down previously from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Needham & Company LLC dropped their price objective on Paragon 28 from $14.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Paragon 28 Trading Up 1.9 %

Paragon 28 stock opened at $5.35 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.70 and a current ratio of 3.57. Paragon 28, Inc. has a 1 year low of $4.84 and a 1 year high of $14.79. The firm’s 50-day moving average is $7.26 and its 200-day moving average is $7.99. The company has a market cap of $443.79 million, a P/E ratio of -8.06 and a beta of 0.97.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). Paragon 28 had a negative net margin of 24.64% and a negative return on equity of 32.39%. The business had revenue of $61.02 million for the quarter, compared to analyst estimates of $60.08 million. During the same quarter last year, the business earned ($0.13) earnings per share. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. On average, equities analysts expect that Paragon 28, Inc. will post -0.69 earnings per share for the current year.

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.