Paragon 28 (NYSE:FNA) Rating Increased to Strong-Buy at Stephens

Stephens upgraded shares of Paragon 28 (NYSE:FNA) to a strong-buy rating in a report issued on Monday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on FNA. Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 price target (down from $15.00) on shares of Paragon 28 in a report on Friday, August 9th. Needham & Company LLC upped their price target on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group reduced their price objective on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Stock Down 3.1 %

Shares of FNA opened at $9.92 on Monday. The firm has a market cap of $830.08 million, a P/E ratio of -13.40 and a beta of 1.52. Paragon 28 has a 12-month low of $4.65 and a 12-month high of $14.79. The company’s 50-day moving average price is $7.24 and its 200 day moving average price is $7.33. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The company had revenue of $62.30 million for the quarter, compared to analyst estimates of $60.58 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, sell-side analysts forecast that Paragon 28 will post -0.66 earnings per share for the current year.

Insiders Place Their Bets

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 72,133 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $10.16, for a total value of $732,871.28. Following the sale, the insider now owns 10,559,065 shares of the company’s stock, valued at approximately $107,280,100.40. This represents a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 234,805 shares of company stock worth $2,401,889. 15.32% of the stock is owned by corporate insiders.

Institutional Trading of Paragon 28

Large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its holdings in Paragon 28 by 46,660.0% in the second 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 during the last quarter. Levin Capital Strategies L.P. acquired a new stake in Paragon 28 in the second quarter valued at $68,000. Intech Investment Management LLC acquired a new stake in shares of Paragon 28 during the third quarter valued at $70,000. Ballentine Partners LLC acquired a new stake in shares of Paragon 28 during the third quarter valued at $91,000. Finally, Creative Planning acquired a new stake in shares of Paragon 28 during the third quarter valued at $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.