Paragon 28 (NYSE:FNA) Hits New 1-Year Low on Analyst Downgrade

Paragon 28, Inc. (NYSE:FNA)’s share price hit a new 52-week low during mid-day trading on Thursday after Needham & Company LLC lowered their price target on the stock from $17.00 to $14.00. Needham & Company LLC currently has a buy rating on the stock. Paragon 28 traded as low as $7.61 and last traded at $8.21, with a volume of 259666 shares traded. The stock had previously closed at $9.50.

A number of other research analysts also recently commented on FNA. Piper Sandler restated an “overweight” rating and issued a $18.00 target price on shares of Paragon 28 in a research note on Wednesday, March 27th. Stephens restated an “overweight” rating and issued a $18.00 target price on shares of Paragon 28 in a research note on Friday, April 5th.

Insider Transactions at Paragon 28

In other Paragon 28 news, insider Albert Dacosta acquired 28,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired 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 of the company’s stock, valued at $48,692,683.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 15.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Paragon 28

A number of hedge funds have recently modified their holdings of the company. Inspire Investing LLC bought a new stake in shares of Paragon 28 in the 1st quarter worth approximately $361,000. Swiss National Bank lifted its position in shares of Paragon 28 by 12.7% in the 1st quarter. Swiss National Bank now owns 73,400 shares of the company’s stock worth $906,000 after acquiring an additional 8,300 shares during the period. Capstone Investment Advisors LLC lifted its position in shares of Paragon 28 by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock worth $269,000 after acquiring an additional 1,800 shares during the period. HighMark Wealth Management LLC lifted its position in shares of Paragon 28 by 1,107.6% during the 1st quarter. HighMark Wealth Management LLC now owns 96,611 shares of the company’s stock worth $1,193,000 after buying an additional 88,611 shares during the period. Finally, PNC Financial Services Group Inc. bought a new position in shares of Paragon 28 during the 4th quarter worth approximately $25,000. Institutional investors own 63.57% of the company’s stock.

Paragon 28 Price Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.30 and a current ratio of 4.21. The firm has a market cap of $680.69 million, a P/E ratio of -16.38 and a beta of 1.12. The company has a 50-day moving average of $10.31 and a 200 day moving average of $11.12.

Paragon 28 (NYSE:FNA) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.19) earnings per share 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. On average, sell-side analysts anticipate that Paragon 28, Inc. will post -0.43 EPS for the current year.

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.