Needham & Company LLC Reaffirms Buy Rating for Paragon 28 (NYSE:FNA)

Paragon 28 (NYSE:FNA)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $13.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 20.82% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Stephens upgraded shares of Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $15.60.

Paragon 28 Trading Up 4.0 %

Paragon 28 stock traded up $0.41 during mid-day trading on Monday, hitting $10.76. The company’s stock had a trading volume of 165,676 shares, compared to its average volume of 451,982. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. The stock has a market cap of $900.83 million, a price-to-earnings ratio of -14.54 and a beta of 1.50. The business has a 50 day moving average price of $9.80 and a 200-day moving average price of $7.99. Paragon 28 has a 12 month low of $4.65 and a 12 month high of $14.79.

Paragon 28 (NYSE:FNA) last released 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. The company had revenue of $62.30 million during 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 was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share. As a group, analysts forecast that Paragon 28 will post -0.66 EPS for the current year.

Insider Transactions at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 4,256 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $10.00, for a total transaction of $42,560.00. Following the transaction, the insider now directly owns 10,499,960 shares of the company’s stock, valued at $104,999,600. This represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 252,914 shares of company stock worth $2,585,514. 15.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new stake in Paragon 28 during the 3rd quarter worth approximately $70,000. Ballentine Partners LLC acquired a new stake in shares of Paragon 28 during the third quarter worth approximately $91,000. Creative Planning acquired a new stake in shares of Paragon 28 during the third quarter worth approximately $91,000. Hsbc Holdings PLC bought a new position in Paragon 28 during the second quarter worth $104,000. Finally, Commerce Bank lifted its stake in Paragon 28 by 28.5% during the third quarter. Commerce Bank now owns 18,350 shares of the company’s stock worth $123,000 after purchasing an additional 4,075 shares during the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

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.