Thrivent Financial for Lutherans Sells 346,688 Shares of Paragon 28, Inc. (NYSE:FNA)

Thrivent Financial for Lutherans reduced its position in Paragon 28, Inc. (NYSE:FNA) by 33.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 674,500 shares of the company’s stock after selling 346,688 shares during the period. Thrivent Financial for Lutherans owned 0.81% of Paragon 28 worth $4,506,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. First Light Asset Management LLC boosted its stake in Paragon 28 by 115.0% in the 2nd quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock worth $55,916,000 after purchasing an additional 4,371,864 shares during the period. Millennium Management LLC boosted its stake in Paragon 28 by 5,834.0% in the second quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock worth $4,962,000 after buying an additional 713,263 shares in the last quarter. Peregrine Capital Management LLC bought a new position in Paragon 28 during the second quarter valued at approximately $3,351,000. Janus Henderson Group PLC raised its stake in shares of Paragon 28 by 29.5% during the first 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 in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Paragon 28 in the 2nd quarter worth approximately $869,000. 63.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 147,581 shares of Paragon 28 stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $10.28, for a total transaction of $1,517,132.68. Following the completion of the transaction, the insider now owns 10,738,564 shares in the company, valued at approximately $110,392,437.92. This trade represents a 1.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 15.32% of the stock is currently owned by insiders.

Paragon 28 Stock Performance

Shares of FNA stock opened at $10.04 on Monday. The firm has a market cap of $840.55 million, a price-to-earnings ratio of -13.57 and a beta of 1.01. Paragon 28, Inc. has a 52-week low of $4.65 and a 52-week high of $14.79. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $6.71 and its 200 day moving average is $7.23.

Paragon 28 (NYSE:FNA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. The firm had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the business posted ($0.10) earnings per share. On average, sell-side analysts anticipate that Paragon 28, Inc. will post -0.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FNA shares. Canaccord Genuity Group cut their price target on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Piper Sandler reiterated an “overweight” rating and issued a $12.00 price objective (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Finally, Needham & Company LLC raised their price objective on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. 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 $15.60.

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.