Paragon 28 (NYSE:FNA) Price Target Raised to $13.00

Paragon 28 (NYSE:FNA) had its price target boosted by equities researchers at Needham & Company LLC from $11.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 34.02% from the stock’s previous close.

Separately, Piper Sandler restated an “overweight” rating and issued a $12.00 target price (down previously from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $15.60.

Paragon 28 Price Performance

Paragon 28 stock opened at $9.70 on Wednesday. The company has a current ratio of 3.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average price of $6.32 and a 200 day moving average price of $7.22. Paragon 28 has a 12-month low of $4.65 and a 12-month high of $14.79. The stock has a market cap of $810.34 million, a P/E ratio of -14.36 and a beta of 1.01.

Paragon 28 (NYSE:FNA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 36.84%. The business had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. During the same quarter last year, the firm earned ($0.10) EPS. The business’s revenue was up 18.0% compared to the same quarter last year. Sell-side analysts anticipate that Paragon 28 will post -0.68 earnings per share for the current year.

Institutional Investors Weigh In On Paragon 28

Several large investors have recently bought and sold shares of the stock. First Light Asset Management LLC grew its stake in shares of Paragon 28 by 115.0% during the second quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock worth $55,916,000 after purchasing an additional 4,371,864 shares in the last quarter. Vanguard Group Inc. grew its stake in Paragon 28 by 2.7% during the 1st 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 during the last quarter. Janus Henderson Group PLC increased its position in Paragon 28 by 29.5% during the first quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock worth $14,818,000 after buying an additional 273,077 shares during the period. Thrivent Financial for Lutherans increased its position in Paragon 28 by 15.4% during the second quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock worth $6,986,000 after buying an additional 135,911 shares during the period. Finally, Millennium Management LLC lifted its stake in Paragon 28 by 5,834.0% in the second quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock valued at $4,962,000 after buying an additional 713,263 shares during the last quarter. Hedge funds and other institutional investors own 63.57% of the company’s stock.

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.