Paragon 28 (NYSE:FNA) Rating Reiterated by Needham & Company LLC

Paragon 28 (NYSE:FNA)‘s stock had its “buy” rating reissued by Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They presently have a $17.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 42.62% from the company’s previous close.

Separately, Piper Sandler reissued an “overweight” rating and issued a $18.00 price target on shares of Paragon 28 in a research note on Wednesday.

Paragon 28 Price Performance

NYSE:FNA opened at $11.92 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.21 and a quick ratio of 2.30. The firm has a market cap of $987.45 million, a price-to-earnings ratio of -20.55 and a beta of 1.02. The company has a 50 day moving average price of $12.00 and a 200-day moving average price of $11.44. Paragon 28 has a 1-year low of $7.95 and a 1-year high of $19.72.

Paragon 28 (NYSE:FNA) last posted its earnings results on Thursday, February 29th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.09). Paragon 28 had a negative net margin of 22.11% and a negative return on equity of 22.51%. Equities research analysts forecast that Paragon 28 will post -0.42 EPS for the current year.

Insider Activity

In related news, insider Albert Dacosta bought 28,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were bought at an average price of $9.12 per share, with a total value of $255,360.00. Following the completion of the transaction, the insider now directly owns 5,339,110 shares of the company’s stock, valued at approximately $48,692,683.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 19.50% of the company’s stock.

Institutional Trading of Paragon 28

Several hedge funds have recently made changes to their positions in FNA. Legal & General Group Plc raised its holdings in Paragon 28 by 4.8% in the fourth quarter. Legal & General Group Plc now owns 12,669 shares of the company’s stock valued at $242,000 after acquiring an additional 576 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Paragon 28 by 22.9% during the first quarter. JPMorgan Chase & Co. now owns 4,252 shares of the company’s stock worth $71,000 after acquiring an additional 793 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Paragon 28 by 6.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 18,508 shares of the company’s stock worth $354,000 after acquiring an additional 1,054 shares during the last quarter. Northern Trust Corp grew its position in shares of Paragon 28 by 1.8% during the first quarter. Northern Trust Corp now owns 77,061 shares of the company’s stock worth $1,290,000 after acquiring an additional 1,343 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its position in shares of Paragon 28 by 0.5% during the third quarter. Valeo Financial Advisors LLC now owns 338,695 shares of the company’s stock worth $4,251,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors and hedge funds 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.