Braidwell LP Sells 15,000 Shares of Paragon 28, Inc. (NYSE:FNA)

Braidwell LP decreased its holdings in Paragon 28, Inc. (NYSE:FNA) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,135,109 shares of the company’s stock after selling 15,000 shares during the quarter. Braidwell LP owned approximately 4.95% of Paragon 28 worth $27,623,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FNA. Nisa Investment Advisors LLC grew its stake 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 worth $32,000 after purchasing an additional 4,666 shares during the period. Levin Capital Strategies L.P. bought a new stake in Paragon 28 in the second quarter valued at approximately $68,000. Intech Investment Management LLC bought a new position in shares of Paragon 28 during the third quarter worth approximately $70,000. Price T Rowe Associates Inc. MD increased its stake in shares of 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 worth $156,000 after purchasing an additional 1,766 shares during the period. Finally, Ballentine Partners LLC acquired a new stake in Paragon 28 during the third quarter worth approximately $91,000. 63.57% of the stock is currently owned by institutional investors and hedge funds.

Paragon 28 Trading Up 0.1 %

NYSE:FNA opened at $9.99 on Friday. 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 firm’s 50 day moving average is $6.95 and its 200 day moving average is $7.28. Paragon 28, Inc. has a 12 month low of $4.65 and a 12 month high of $14.79.

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

Insider Buying and Selling

In related news, major shareholder Mvm Partners, Llc sold 72,133 shares of Paragon 28 stock in a transaction that occurred on Friday, November 22nd. The shares were 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. The trade was a 0.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 230,549 shares of company stock valued at $2,359,329. 15.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.