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

Needham & Company LLC reaffirmed their buy rating on shares of Paragon 28 (NYSE:FNA) in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a $13.00 price target on the stock.

Other research analysts have also issued research reports about the company. Stephens upgraded Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group dropped their price objective on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Paragon 28 currently has an average rating of “Buy” and a consensus target price of $15.60.

Paragon 28 Stock Performance

NYSE FNA opened at $10.70 on Monday. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. The company has a fifty day simple moving average of $9.90 and a 200 day simple moving average of $8.02. Paragon 28 has a 12-month low of $4.65 and a 12-month high of $14.79. The company has a market cap of $895.80 million, a P/E ratio of -14.46 and a beta of 1.50.

Paragon 28 (NYSE:FNA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, topping 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 company had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. Sell-side analysts predict that Paragon 28 will post -0.66 earnings per share for the current fiscal year.

Insider Activity at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 72,133 shares of the business’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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 252,914 shares of company stock valued at $2,585,514. 15.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Paragon 28

A number of hedge funds have recently made changes to their positions in FNA. Intech Investment Management LLC bought a new position in Paragon 28 during the third quarter valued at about $70,000. Ballentine Partners LLC purchased a new position in Paragon 28 in the third quarter valued at about $91,000. Creative Planning bought a new position in shares of Paragon 28 during the 3rd quarter valued at approximately $91,000. Hsbc Holdings PLC purchased a new stake in shares of Paragon 28 during the 2nd quarter worth approximately $104,000. Finally, Commerce Bank raised its holdings in shares of Paragon 28 by 28.5% in the 3rd quarter. Commerce Bank now owns 18,350 shares of the company’s stock worth $123,000 after purchasing an additional 4,075 shares during the period. 63.57% of the stock is currently owned by institutional investors.

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.