Paragon 28, Inc. (NYSE:FNA) Receives Consensus Rating of “Hold” from Brokerages

Paragon 28, Inc. (NYSE:FNA) has been given an average recommendation of “Hold” by the six research firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $14.20.

FNA has been the subject of a number of research analyst reports. Needham & Company LLC restated a “hold” rating and issued a $13.00 target price on shares of Paragon 28 in a research note on Wednesday, January 29th. William Blair cut shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Canaccord Genuity Group set a $13.00 price target on shares of Paragon 28 in a research note on Wednesday, January 29th. Finally, Stephens restated an “equal weight” rating and issued a $13.00 price objective (down previously from $14.00) on shares of Paragon 28 in a report on Thursday, January 30th.

Paragon 28 Price Performance

Shares of FNA stock opened at $13.09 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. The firm has a market cap of $1.10 billion, a P/E ratio of -17.69 and a beta of 1.47. The business’s 50 day moving average price is $13.03 and its 200-day moving average price is $10.55. Paragon 28 has a fifty-two week low of $4.65 and a fifty-two week high of $13.13.

Paragon 28 (NYSE:FNA) last posted its earnings results on Thursday, March 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The company had revenue of $71.75 million during the quarter, compared to analysts’ expectations of $70.81 million. On average, equities research analysts anticipate that Paragon 28 will post -0.64 earnings per share for the current year.

Insider Buying and Selling at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 1,044,295 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $13.04, for a total transaction of $13,617,606.80. Following the transaction, the insider now directly owns 7,810,588 shares of the company’s stock, valued at $101,850,067.52. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 1,875,984 shares of company stock worth $24,359,971. 15.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new position in shares of Paragon 28 in the 1st quarter worth $165,000. SG Americas Securities LLC lifted its stake in shares of Paragon 28 by 75.9% in the 1st quarter. SG Americas Securities LLC now owns 47,048 shares of the company’s stock worth $614,000 after purchasing an additional 20,294 shares during the period. Rhumbline Advisers grew its position in Paragon 28 by 6.6% during the first quarter. Rhumbline Advisers now owns 66,982 shares of the company’s stock valued at $875,000 after buying an additional 4,121 shares during the period. GAMMA Investing LLC increased its holdings in Paragon 28 by 1,368.4% during the first quarter. GAMMA Investing LLC now owns 5,668 shares of the company’s stock valued at $74,000 after buying an additional 5,282 shares during the last quarter. Finally, AlphaCore Capital LLC bought a new position in Paragon 28 in the fourth quarter worth approximately $175,000. Institutional investors own 63.57% of the company’s stock.

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.