By otakuyassine3@gmail.com 
Paragon 28, Inc. (NYSE:FNA – Get Free Report)’s share price shot up 5.8% during trading on Wednesday . The company traded as high as $11.01 and last traded at $10.96. 263,655 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 604,324 shares. The stock had previously closed at $10.36.
Wall Street Analyst Weigh In
A number of research firms have recently commented on FNA. Canaccord Genuity Group dropped 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. Needham & Company LLC lifted their target price on Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Stephens raised Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $15.60.
View Our Latest Stock Report on Paragon 28
Paragon 28 Stock Down 3.1 %
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 business has a fifty day simple moving average of $8.01 and a two-hundred day simple moving average of $7.50. The company has a market capitalization of $840.55 million, a price-to-earnings ratio of -13.57 and a beta of 1.52.
Paragon 28 (NYSE:FNA – Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $62.30 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) earnings per share. Equities analysts expect that Paragon 28, Inc. will post -0.66 EPS for the current year.
Insider Buying and Selling at Paragon 28
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 value of $1,517,132.68. Following the transaction, the insider now directly owns 10,738,564 shares of the company’s stock, valued at $110,392,437.92. The trade was a 1.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 252,914 shares of company stock valued at $2,585,514. 15.32% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. First Light Asset Management LLC raised its position 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 last quarter. State Street Corp raised its position in Paragon 28 by 2.6% in the 3rd quarter. State Street Corp now owns 1,563,331 shares of the company’s stock worth $10,443,000 after purchasing an additional 39,075 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Paragon 28 by 15.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock worth $6,986,000 after purchasing an additional 135,911 shares during the last quarter. Geode Capital Management LLC raised its position in Paragon 28 by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 967,519 shares of the company’s stock worth $6,464,000 after purchasing an additional 23,167 shares during the last quarter. Finally, Millennium Management LLC raised its position in Paragon 28 by 5,834.0% in the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock worth $4,962,000 after purchasing an additional 713,263 shares during the last quarter. 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.
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