Paragon 28 (NYSE:FNA) Shares Down 4.7% – Time to Sell?

Paragon 28, Inc. (NYSE:FNA) dropped 4.7% during mid-day trading on Wednesday . The stock traded as low as $9.96 and last traded at $10.01. Approximately 191,257 shares changed hands during trading, a decline of 69% from the average daily volume of 610,097 shares. The stock had previously closed at $10.50.

Analyst Upgrades and Downgrades

Several brokerages have commented on FNA. Piper Sandler restated an “overweight” rating and issued a $12.00 price objective (down from $15.00) on shares of Paragon 28 in a report on Friday, August 9th. Needham & Company LLC raised their target price on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group dropped their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Paragon 28 has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. The stock’s 50 day simple moving average is $6.66 and its two-hundred day simple moving average is $7.25. The firm has a market cap of $872.36 million, a P/E ratio of -14.09 and a beta of 1.01.

Paragon 28 (NYSE:FNA) last posted 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. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The company had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. During the same quarter last year, the company earned ($0.10) EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, research analysts forecast that Paragon 28, Inc. will post -0.66 earnings per share for the current year.

Institutional Trading of Paragon 28

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its holdings in shares of Paragon 28 by 46,660.0% during the second quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $32,000 after buying an additional 4,666 shares during the last quarter. Levin Capital Strategies L.P. bought a new position in Paragon 28 in the 2nd quarter valued at approximately $68,000. Intech Investment Management LLC purchased a new stake in Paragon 28 during the 3rd quarter valued at $70,000. Ballentine Partners LLC bought a new stake in shares of Paragon 28 in the 3rd quarter worth $91,000. Finally, Creative Planning purchased a new position in shares of Paragon 28 in the third quarter worth $91,000. 63.57% of the stock is currently owned by institutional investors.

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.