Needham & Company LLC Increases Paragon 28 (NYSE:FNA) Price Target to $13.00

Paragon 28 (NYSE:FNA) had its target price increased by Needham & Company LLC from $11.00 to $13.00 in a research note released on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Separately, Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price objective (down previously from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $15.60.

Paragon 28 Stock Performance

FNA opened at $10.63 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.57 and a quick ratio of 1.70. The business’s fifty day simple moving average is $6.28 and its 200-day simple moving average is $7.19. Paragon 28 has a 12-month low of $4.65 and a 12-month high of $14.79.

Paragon 28 (NYSE:FNA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $62.30 million for the quarter, compared to analyst estimates of $60.58 million. Paragon 28 had a negative return on equity of 36.84% and a negative net margin of 25.31%. Paragon 28’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. As a group, sell-side analysts expect that Paragon 28 will post -0.68 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its stake in Paragon 28 by 46,660.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after buying an additional 4,666 shares during the period. Levin Capital Strategies L.P. bought a new stake in shares of Paragon 28 in the 2nd quarter valued at approximately $68,000. Intech Investment Management LLC acquired a new stake in Paragon 28 during the third quarter worth about $70,000. Price T Rowe Associates Inc. MD lifted its position in Paragon 28 by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock valued at $156,000 after purchasing an additional 1,766 shares during the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of Paragon 28 during the third quarter valued at approximately $91,000. 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.