Geode Capital Management LLC Raises Stock Holdings in Paragon 28, Inc. (NYSE:FNA)

Geode Capital Management LLC raised its position in shares of Paragon 28, Inc. (NYSE:FNA) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 967,519 shares of the company’s stock after purchasing an additional 23,167 shares during the period. Geode Capital Management LLC’s holdings in Paragon 28 were worth $6,464,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. First Light Asset Management LLC boosted its holdings in Paragon 28 by 115.0% in the second quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock worth $55,916,000 after acquiring an additional 4,371,864 shares in the last quarter. State Street Corp boosted its stake in Paragon 28 by 2.6% in the 3rd quarter. State Street Corp now owns 1,563,331 shares of the company’s stock worth $10,443,000 after purchasing an additional 39,075 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Paragon 28 by 15.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock worth $6,986,000 after purchasing an additional 135,911 shares in the last quarter. Millennium Management LLC grew 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 last quarter. Finally, Wellington Management Group LLP increased its stake 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 in the last quarter. Institutional investors own 63.57% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Mvm Partners, Llc sold 18,109 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $10.14, for a total transaction of $183,625.26. Following the completion of the transaction, the insider now owns 10,481,851 shares in the company, valued at approximately $106,285,969.14. This represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 252,914 shares of company stock worth $2,585,514 over the last three months. 15.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on FNA. Needham & Company LLC upped their price objective on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group lowered their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Stephens upgraded Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Trading Up 2.0 %

Shares of FNA stock opened at $10.93 on Friday. Paragon 28, Inc. has a 1 year low of $4.65 and a 1 year high of $14.79. The firm has a fifty day moving average price of $9.27 and a 200-day moving average price of $7.80. The company has a market cap of $915.06 million, a price-to-earnings ratio of -14.77 and a beta of 1.52. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. The firm had revenue of $62.30 million for the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) earnings per share. As a group, equities analysts predict that Paragon 28, Inc. will post -0.66 earnings per share for the current year.

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.