Paragon 28 (NYSE:FNA) Stock Price Down 4.4%

Paragon 28, Inc. (NYSE:FNA)’s share price was down 4.4% during mid-day trading on Wednesday . The stock traded as low as $6.98 and last traded at $7.09. Approximately 63,739 shares were traded during trading, a decline of 90% from the average daily volume of 646,116 shares. The stock had previously closed at $7.42.

Analyst Ratings Changes

FNA has been the subject of a number of analyst reports. Piper Sandler reissued an “overweight” rating and issued a $12.00 price target (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. JMP Securities lowered their target price on Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 9th. Finally, Needham & Company LLC reduced their price target on shares of Paragon 28 from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $15.25.

Paragon 28 Price Performance

The company has a current ratio of 3.57, a quick ratio of 1.78 and a debt-to-equity ratio of 0.67. The stock has a market cap of $650.34 million, a PE ratio of -12.06 and a beta of 0.99. The business has a 50-day moving average price of $7.22 and a 200 day moving average price of $9.32.

Paragon 28 (NYSE:FNA) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17). The business had revenue of $61.02 million for the quarter, compared to the consensus estimate of $60.08 million. Paragon 28 had a negative net margin of 24.45% and a negative return on equity of 27.72%. The company’s revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) earnings per share. As a group, research analysts forecast that Paragon 28, Inc. will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paragon 28

A number of large investors have recently made changes to their positions in FNA. PNC Financial Services Group Inc. purchased a new position in Paragon 28 during the fourth quarter valued at approximately $25,000. Nisa Investment Advisors LLC grew 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 valued at $32,000 after purchasing an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. purchased a new stake in shares of Paragon 28 in the second quarter worth $68,000. Price T Rowe Associates Inc. MD boosted its stake in Paragon 28 by 16.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock valued at $156,000 after buying an additional 1,766 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Paragon 28 by 26.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,886 shares of the company’s stock valued at $173,000 after acquiring an additional 2,902 shares in the last quarter. 63.57% of the stock is 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.