Paragon 28 (NYSE:FNA) Sees Large Volume Increase – Time to Buy?

Shares of Paragon 28, Inc. (NYSE:FNA) saw an uptick in trading volume on Tuesday . 333,255 shares traded hands during mid-day trading, a decline of 45% from the previous session’s volume of 606,822 shares.The stock last traded at $10.17 and had previously closed at $10.20.

Wall Street Analyst Weigh In

FNA has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and issued a $12.00 price objective (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. 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. Finally, Needham & Company LLC increased their target price on Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Stock Down 0.2 %

The stock has a market capitalization of $852.27 million, a price-to-earnings ratio of -13.79 and a beta of 1.01. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. The stock has a 50 day moving average price of $6.48 and a 200 day moving average price of $7.21.

Paragon 28 (NYSE:FNA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, topping 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 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) EPS. As a group, analysts forecast that Paragon 28, Inc. will post -0.66 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised 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 buying an additional 1,766 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Paragon 28 by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company’s stock worth $178,000 after acquiring an additional 2,142 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Paragon 28 by 6.0% in the second quarter. Rhumbline Advisers now owns 65,727 shares of the company’s stock valued at $450,000 after purchasing an additional 3,720 shares during the last quarter. Commerce Bank lifted its position in shares of Paragon 28 by 28.5% during the third quarter. Commerce Bank now owns 18,350 shares of the company’s stock valued at $123,000 after purchasing an additional 4,075 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in Paragon 28 by 12.0% during the second quarter. Algert Global LLC now owns 38,793 shares of the company’s stock worth $265,000 after purchasing an additional 4,157 shares during the last quarter. 63.57% of the stock is currently 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.