Paragon 28 (NYSE:FNA) Given “Overweight” Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Paragon 28 (NYSE:FNA) in a report published on Friday, Benzinga reports. Piper Sandler currently has a $12.00 target price on the stock, down from their prior target price of $15.00.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC lowered their price target on Paragon 28 from $14.00 to $11.00 and set a buy rating for the company in a research report on Friday. JMP Securities dropped their target price on shares of Paragon 28 from $23.00 to $20.00 and set a market outperform rating for the company in a research report on Thursday, May 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $15.25.

Paragon 28 Trading Down 20.1 %

Shares of FNA stock traded down $1.67 during trading hours on Friday, hitting $6.64. 2,044,191 shares of the company were exchanged, compared to its average volume of 646,397. The firm has a fifty day moving average of $7.20 and a 200 day moving average of $9.47. The company has a quick ratio of 1.78, a current ratio of 3.57 and a debt-to-equity ratio of 0.67. Paragon 28 has a 1 year low of $5.55 and a 1 year high of $15.37. The firm has a market cap of $550.79 million, a PE ratio of -10.22 and a beta of 0.99.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). Paragon 28 had a negative net margin of 24.45% and a negative return on equity of 27.72%. The company had revenue of $61.02 million for the quarter, compared to the consensus estimate of $60.08 million. During the same quarter last year, the firm posted ($0.13) earnings per share. Paragon 28’s revenue was up 19.6% on a year-over-year basis. Analysts expect that Paragon 28 will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Paragon 28

A number of large investors have recently added to or reduced their stakes in the company. MVM Partners LLC purchased a new stake in Paragon 28 during the 4th quarter worth approximately $134,879,000. First Light Asset Management LLC increased its stake in shares of Paragon 28 by 39.4% in the fourth quarter. First Light Asset Management LLC now owns 3,817,794 shares of the company’s stock worth $47,455,000 after buying an additional 1,079,916 shares during the last quarter. Vanguard Group Inc. raised its holdings in Paragon 28 by 2.7% in the first 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 in the last quarter. Janus Henderson Group PLC boosted its stake in Paragon 28 by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock valued at $14,818,000 after acquiring an additional 273,077 shares during the last quarter. Finally, Peregrine Capital Management LLC bought a new position in Paragon 28 during the 2nd quarter valued at $3,351,000. 63.57% of the stock is owned by institutional investors and hedge funds.

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.