Paragon 28’s (FNA) “Hold” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their hold rating on shares of Paragon 28 (NYSE:FNA) in a report released on Wednesday, Marketbeat reports.

FNA has been the topic of several other research reports. Stephens raised shares of Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. William Blair downgraded shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “hold” rating and issued a $13.00 target price on shares of Paragon 28 in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.60.

Paragon 28 Trading Down 0.0 %

Shares of Paragon 28 stock opened at $13.03 on Wednesday. Paragon 28 has a 1 year low of $4.65 and a 1 year high of $14.79. 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 company has a market capitalization of $1.09 billion, a P/E ratio of -17.60 and a beta of 1.50. The company’s fifty day moving average is $10.59 and its two-hundred day moving average is $8.42.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. The company had revenue of $62.30 million for 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%. Paragon 28’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the firm posted ($0.10) EPS. Analysts forecast that Paragon 28 will post -0.64 earnings per share for the current year.

Insider Activity at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 4,256 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $10.00, for a total value of $42,560.00. Following the completion of the sale, the insider now owns 10,499,960 shares in the company, valued at $104,999,600. This trade represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 300,192 shares of company stock worth $3,135,086 over the last 90 days. Company insiders own 15.32% of the company’s stock.

Institutional Trading of Paragon 28

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its position in Paragon 28 by 1.7% during the fourth quarter. Rhumbline Advisers now owns 62,861 shares of the company’s stock worth $649,000 after acquiring an additional 1,024 shares during the last quarter. MN Wealth Advisors LLC raised its position in Paragon 28 by 1.4% during the fourth quarter. MN Wealth Advisors LLC now owns 84,535 shares of the company’s stock worth $873,000 after acquiring an additional 1,200 shares during the last quarter. Ballentine Partners LLC raised its position in Paragon 28 by 15.0% during the fourth quarter. Ballentine Partners LLC now owns 15,630 shares of the company’s stock worth $161,000 after acquiring an additional 2,043 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Paragon 28 by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company’s stock worth $178,000 after acquiring an additional 2,142 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Paragon 28 during the fourth quarter worth about $36,000. 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.