Paragon 28 (NYSE:FNA) Trading Up 8% – Here’s Why

by · The Markets Daily

Paragon 28, Inc. (NYSE:FNA – Get Free Report)’s share price was up 8% during mid-day trading on Monday . The stock traded as high as $6.29 and last traded at $6.07. Approximately 174,268 shares traded hands during trading, a decline of 70% from the average daily volume of 586,216 shares. The stock had previously closed at $5.62.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FNA shares. Needham & Company LLC decreased their price target on Paragon 28 from $14.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 9th. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 target price (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th.

Get Our Latest Stock Report on FNA

Paragon 28 Price Performance

The stock has a market cap of $496.24 million, a P/E ratio of -8.64 and a beta of 1.01. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.70 and a current ratio of 3.57. The firm has a 50-day moving average price of $6.46 and a 200-day moving average price of $7.32.

Paragon 28 (NYSE:FNA – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.17). The company had revenue of $61.02 million for the quarter, compared to analysts’ expectations of $60.08 million. Paragon 28 had a negative net margin of 24.64% and a negative return on equity of 32.39%. Paragon 28’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.13) EPS. On average, analysts forecast that Paragon 28, Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paragon 28

Several large investors have recently bought and sold shares of FNA. First Light Asset Management LLC increased its holdings in Paragon 28 by 115.0% in the 2nd quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock worth $55,916,000 after buying an additional 4,371,864 shares in the last quarter. Millennium Management LLC boosted its position in Paragon 28 by 5,834.0% in the second quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock worth $4,962,000 after purchasing an additional 713,263 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in Paragon 28 in the second quarter worth about $3,351,000. Janus Henderson Group PLC boosted its position in Paragon 28 by 29.5% in the first quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock worth $14,818,000 after purchasing an additional 273,077 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Paragon 28 by 15.4% in the second quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock worth $6,986,000 after purchasing an additional 135,911 shares during the last quarter. 63.57% of the stock is currently owned by institutional investors.

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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