Needham & Company LLC Reaffirms Hold Rating for Paragon 28 (NYSE:FNA)

Paragon 28 (NYSE:FNA)‘s stock had its “hold” rating reiterated by equities researchers at Needham & Company LLC in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $13.00 target price on the stock. Needham & Company LLC’s price target indicates a potential downside of 0.19% from the company’s previous close.

FNA has been the subject of several other research reports. William Blair lowered shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Canaccord Genuity Group lowered their price objective 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. Finally, Stephens upgraded shares of Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Paragon 28 presently has an average rating of “Hold” and a consensus price target of $14.60.

Paragon 28 Stock Performance

FNA opened at $13.03 on Wednesday. Paragon 28 has a fifty-two week low of $4.65 and a fifty-two week high of $14.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. The company has a fifty day moving average of $10.53 and a 200 day moving average of $8.38. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -17.60 and a beta of 1.50.

Paragon 28 (NYSE:FNA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate 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 business had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. During the same quarter last year, the business earned ($0.10) earnings per share. Paragon 28’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Paragon 28 will post -0.64 earnings per share for the current fiscal year.

Insider Transactions at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 27,142 shares of Paragon 28 stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $11.62, for a total transaction of $315,390.04. Following the completion of the sale, the insider now owns 10,313,841 shares in the company, valued at $119,846,832.42. This trade represents a 0.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders sold 300,192 shares of company stock worth $3,135,086. 15.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paragon 28

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Paragon 28 by 2.6% during the 3rd quarter. State Street Corp now owns 1,563,331 shares of the company’s stock valued at $10,443,000 after buying an additional 39,075 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Paragon 28 by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 967,519 shares of the company’s stock valued at $6,464,000 after buying an additional 23,167 shares in the last quarter. JPMorgan Chase & Co. increased its position in Paragon 28 by 2,141.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock valued at $5,243,000 after purchasing an additional 749,865 shares during the period. Millennium Management LLC increased its position in Paragon 28 by 5,834.0% during the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock valued at $4,962,000 after purchasing an additional 713,263 shares during the period. Finally, Wellington Management Group LLP increased its position in Paragon 28 by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 694,799 shares of the company’s stock valued at $4,641,000 after purchasing an additional 45,215 shares during the period. Institutional investors own 63.57% of the company’s stock.

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.