Paragon 28 (NYSE:FNA) Shares Gap Up – Should You Buy?

Paragon 28, Inc. (NYSE:FNA) shares gapped up before the market opened on Wednesday . The stock had previously closed at $12.00, but opened at $13.11. Paragon 28 shares last traded at $13.03, with a volume of 6,266,980 shares traded.

Wall Street Analysts Forecast Growth

FNA has been the subject of a number of recent analyst reports. Canaccord Genuity Group cut their price target on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a “hold” rating and issued a $13.00 target price on shares of Paragon 28 in a research note on Wednesday. Stephens raised Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, William Blair cut Paragon 28 from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.60.

Paragon 28 Trading Up 8.4 %

The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -17.59 and a beta of 1.50. The business has a fifty day simple moving average of $10.48 and a 200 day simple moving average of $8.35.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.10) EPS. As a group, research analysts expect that Paragon 28, Inc. will post -0.64 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Mvm Partners, Llc sold 4,256 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $10.00, for a total transaction of $42,560.00. Following the completion of the sale, the insider now directly owns 10,499,960 shares in the company, valued at $104,999,600. This represents a 0.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 273,050 shares of company stock worth $2,819,696 over the last ninety days. Corporate insiders own 15.32% of the company’s stock.

Institutional Investors Weigh In On Paragon 28

Several hedge funds have recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in shares of Paragon 28 in the third quarter worth $70,000. Ballentine Partners LLC bought a new stake in Paragon 28 in the third quarter valued at approximately $91,000. Creative Planning acquired a new stake in Paragon 28 during the 3rd quarter valued at approximately $91,000. Hsbc Holdings PLC bought a new position in Paragon 28 during the 2nd quarter worth approximately $104,000. Finally, Commerce Bank lifted its position 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. 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.