Paragon 28 (NYSE:FNA) Stock Rating Upgraded by Stephens

Paragon 28 (NYSE:FNA) was upgraded by analysts at Stephens to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

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

Paragon 28 Stock Performance

Shares of FNA opened at $9.92 on Monday. The company’s 50 day moving average price is $7.24 and its 200 day moving average price is $7.33. Paragon 28 has a 52 week low of $4.65 and a 52 week high of $14.79. The company has a market capitalization of $830.08 million, a PE ratio of -13.40 and a beta of 1.52. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50.

Paragon 28 (NYSE:FNA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. The company had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) earnings per share. Research analysts expect that Paragon 28 will post -0.66 EPS for the current fiscal year.

Insider Activity at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 147,581 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $10.28, for a total transaction of $1,517,132.68. Following the completion of the transaction, the insider now directly owns 10,738,564 shares of the company’s stock, valued at approximately $110,392,437.92. This trade represents a 1.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 234,805 shares of company stock worth $2,401,889 in the last ninety days. 15.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paragon 28

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in shares of 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 purchasing an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in Paragon 28 in the 2nd quarter valued at about $68,000. Intech Investment Management LLC acquired a new stake in Paragon 28 in the 3rd quarter valued at about $70,000. Price T Rowe Associates Inc. MD increased 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 acquiring an additional 1,766 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in Paragon 28 in the 3rd quarter valued at about $91,000. Institutional investors and hedge funds 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.