Paragon 28 (NYSE:FNA) Shares Down 5.3%

Paragon 28, Inc. (NYSE:FNA) was down 5.3% during mid-day trading on Wednesday . The stock traded as low as $6.31 and last traded at $6.31. Approximately 42,468 shares traded hands during trading, a decline of 93% from the average daily volume of 607,095 shares. The stock had previously closed at $6.66.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FNA. Needham & Company LLC reduced their target price on Paragon 28 from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Piper Sandler reissued an “overweight” rating and issued a $12.00 price objective (down previously 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, Based on data from MarketBeat, Paragon 28 currently has a consensus rating of “Buy” and an average price target of $15.25.

Paragon 28 Trading Down 5.1 %

The stock has a market capitalization of $527.97 million, a P/E ratio of -9.89 and a beta of 1.00. The company has a current ratio of 3.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.75. The stock’s fifty day moving average price is $7.79 and its two-hundred day moving average price is $8.25.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). Paragon 28 had a negative net margin of 24.64% and a negative return on equity of 32.39%. The company had revenue of $61.02 million during the quarter, compared to analyst estimates of $60.08 million. During the same period in the prior year, the business posted ($0.13) EPS. The firm’s revenue was up 19.6% compared to the same quarter last year. Equities research analysts forecast that Paragon 28, Inc. will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC raised its holdings in Paragon 28 by 39.4% in the 4th quarter. First Light Asset Management LLC now owns 3,817,794 shares of the company’s stock worth $47,455,000 after purchasing an additional 1,079,916 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Paragon 28 by 29.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock worth $14,818,000 after buying an additional 273,077 shares during the period. MVM Partners LLC purchased a new stake in shares of Paragon 28 in the 4th quarter worth about $134,879,000. Peregrine Capital Management LLC purchased a new stake in shares of Paragon 28 in the 2nd quarter worth about $3,351,000. Finally, Wellington Management Group LLP bought a new position in Paragon 28 during the 4th quarter valued at about $5,824,000. 63.57% of the stock is currently 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.