Paragon 28 (NYSE:FNA) Sets New 12-Month Low at $7.20

Paragon 28, Inc. (NYSE:FNAGet Free Report) shares hit a new 52-week low during trading on Monday . The company traded as low as $7.20 and last traded at $7.35, with a volume of 837197 shares trading hands. The stock had previously closed at $7.69.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price (down previously from $18.00) on shares of Paragon 28 in a research report on Thursday, May 9th. Stephens reaffirmed an “overweight” rating and issued a $18.00 price target on shares of Paragon 28 in a research note on Friday, April 5th. Needham & Company LLC reduced their price target on Paragon 28 from $17.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, JMP Securities dropped their price objective on Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating on the stock in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $16.75.

View Our Latest Analysis on Paragon 28

Paragon 28 Price Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 3.57 and a quick ratio of 1.78. The stock has a market capitalization of $622.95 million, a P/E ratio of -11.00 and a beta of 1.02. The stock’s fifty day moving average is $9.36 and its 200-day moving average is $10.92.

Paragon 28 (NYSE:FNAGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). The company had revenue of $61.08 million during the quarter. Paragon 28 had a negative return on equity of 27.72% and a negative net margin of 24.45%. On average, equities analysts anticipate that Paragon 28, Inc. will post -0.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Albert Dacosta purchased 28,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $48,692,683.20. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 15.32% of the company’s stock.

Institutional Investors Weigh In On Paragon 28

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MVM Partners LLC acquired a new position in Paragon 28 during the 4th quarter valued at $134,879,000. First Light Asset Management LLC raised its position in shares of Paragon 28 by 39.4% during the fourth quarter. First Light Asset Management LLC now owns 3,817,794 shares of the company’s stock valued at $47,455,000 after buying an additional 1,079,916 shares during the last quarter. Braidwell LP lifted its stake in shares of Paragon 28 by 57.4% in the third quarter. Braidwell LP now owns 3,361,824 shares of the company’s stock valued at $42,191,000 after buying an additional 1,225,702 shares during the period. Vanguard Group Inc. grew its position in Paragon 28 by 2.7% during the first quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company’s stock worth $26,012,000 after buying an additional 55,851 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in Paragon 28 by 1.2% during the third quarter. Loomis Sayles & Co. L P now owns 1,584,749 shares of the company’s stock valued at $19,888,000 after acquiring an additional 19,321 shares during the period. 63.57% of the stock is owned by institutional investors and hedge funds.

About Paragon 28

(Get Free Report)

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.

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