JMP Securities Lowers Paragon 28 (NYSE:FNA) Price Target to $20.00

Paragon 28 (NYSE:FNA) had its price target dropped by research analysts at JMP Securities from $23.00 to $20.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 142.42% from the stock’s current price.

Several other equities research analysts have also recently issued reports on FNA. Stephens reiterated an “overweight” rating and issued a $18.00 price objective on shares of Paragon 28 in a report on Friday, April 5th. Needham & Company LLC lowered their price objective on Paragon 28 from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Piper Sandler reissued an “overweight” rating and issued a $15.00 target price (down from $18.00) on shares of Paragon 28 in a research note on Thursday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Paragon 28 currently has a consensus rating of “Buy” and a consensus price target of $16.75.

Paragon 28 Price Performance

Shares of NYSE:FNA traded down $1.25 during trading on Thursday, reaching $8.25. 1,939,520 shares of the company’s stock traded hands, compared to its average volume of 536,532. Paragon 28 has a fifty-two week low of $7.61 and a fifty-two week high of $19.00. The company has a quick ratio of 2.30, a current ratio of 4.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $684.01 million, a PE ratio of -14.12 and a beta of 1.12. The company has a 50-day simple moving average of $10.31 and a 200-day simple moving average of $11.12.

Paragon 28 (NYSE:FNA) last posted its earnings results on Thursday, February 29th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.09). Paragon 28 had a negative net margin of 22.11% and a negative return on equity of 22.51%. The business had revenue of $60.56 million for the quarter, compared to analyst estimates of $60.73 million. As a group, analysts predict that Paragon 28 will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Albert Dacosta purchased 28,000 shares of Paragon 28 stock in a transaction dated Friday, March 15th. The shares were purchased at an average price of $9.12 per share, with a total value of $255,360.00. Following the transaction, the insider now owns 5,339,110 shares in the company, valued at $48,692,683.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 15.32% of the company’s stock.

Institutional Trading of Paragon 28

Several institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. acquired a new position in shares of Paragon 28 in the fourth quarter worth $25,000. HighMark Wealth Management LLC acquired a new position in shares of Paragon 28 in the fourth quarter worth $99,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Paragon 28 by 91.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,984 shares of the company’s stock worth $138,000 after acquiring an additional 5,234 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Paragon 28 in the third quarter valued at about $142,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Paragon 28 in the fourth quarter valued at about $249,000. 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.