Charles Schwab Investment Management Inc. Acquires 15,064 Shares of Paragon 28, Inc. (NYSE:FNA)

Charles Schwab Investment Management Inc. raised its holdings in Paragon 28, Inc. (NYSE:FNA) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 343,565 shares of the company’s stock after acquiring an additional 15,064 shares during the period. Charles Schwab Investment Management Inc. owned about 0.41% of Paragon 28 worth $2,295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Intech Investment Management LLC bought a new position in Paragon 28 in the third quarter valued at about $70,000. Commerce Bank grew its holdings in shares of Paragon 28 by 28.5% during the third quarter. Commerce Bank now owns 18,350 shares of the company’s stock worth $123,000 after purchasing an additional 4,075 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Paragon 28 during the third quarter worth about $386,000. Park Edge Advisors LLC grew its holdings in shares of Paragon 28 by 2.7% during the third quarter. Park Edge Advisors LLC now owns 598,870 shares of the company’s stock worth $4,000,000 after purchasing an additional 15,727 shares during the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of Paragon 28 during the third quarter worth about $91,000. Institutional investors own 63.57% of the company’s stock.

Paragon 28 Stock Performance

Shares of FNA opened at $10.42 on Monday. The stock’s 50-day simple moving average is $7.80 and its 200 day simple moving average is $7.46. The stock has a market capitalization of $872.36 million, a price-to-earnings ratio of -14.08 and a beta of 1.52. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. Paragon 28, Inc. has a 52-week low of $4.65 and a 52-week high of $14.79.

Paragon 28 (NYSE:FNA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. The firm had revenue of $62.30 million for 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 was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) EPS. Research analysts forecast that Paragon 28, Inc. will post -0.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Mvm Partners, Llc sold 147,581 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 10,738,564 shares of the company’s stock, valued at approximately $110,392,437.92. The trade was a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 252,914 shares of company stock valued at $2,585,514 in the last ninety days. Company insiders own 15.32% of the company’s stock.

Analysts Set New Price Targets

FNA has been the topic of several research reports. Needham & Company LLC boosted their price target on Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Canaccord Genuity Group cut their price objective on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Stephens raised Paragon 28 to a “strong-buy” rating in a research note on Monday, December 2nd. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Paragon 28 currently has a consensus rating of “Buy” and an average target price of $15.60.

Paragon 28 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.