Paragon 28 (NYSE:FNA) Stock Price Down 7.7% – Here’s What Happened

Paragon 28, Inc. (NYSE:FNA)’s stock price dropped 7.7% during trading on Tuesday . The company traded as low as $9.91 and last traded at $9.91. Approximately 110,816 shares changed hands during trading, a decline of 78% from the average daily volume of 507,912 shares. The stock had previously closed at $10.74.

Analyst Upgrades and Downgrades

FNA has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Paragon 28 in a research report on Monday. Stephens raised shares of Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group reduced 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 report on Wednesday, November 13th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Paragon 28 has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Trading Up 3.4 %

The company has a market capitalization of $887.18 million, a PE ratio of -14.32 and a beta of 1.50. The company’s fifty day moving average is $10.04 and its 200-day moving average is $8.06. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The company had revenue of $62.30 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted ($0.10) earnings per share. On average, analysts anticipate that Paragon 28, Inc. will post -0.66 EPS for the current fiscal year.

Insider Buying and Selling at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 147,581 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $10.28, for a total value of $1,517,132.68. Following the completion of the sale, the insider now directly owns 10,738,564 shares in the company, valued at $110,392,437.92. This trade represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 252,914 shares of company stock worth $2,585,514 over the last three months. Corporate insiders own 15.32% of the company’s stock.

Institutional Investors Weigh In On Paragon 28

Several institutional investors and hedge funds have recently made changes to their positions in FNA. Bank of New York Mellon Corp lifted its stake in shares of Paragon 28 by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 159,822 shares of the company’s stock worth $1,093,000 after buying an additional 24,440 shares during the period. Rhumbline Advisers lifted its stake in shares of Paragon 28 by 6.0% during the second quarter. Rhumbline Advisers now owns 65,727 shares of the company’s stock worth $450,000 after buying an additional 3,720 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Paragon 28 during the second quarter worth $419,000. Hsbc Holdings PLC acquired a new stake in shares of Paragon 28 during the second quarter worth $104,000. Finally, XTX Topco Ltd lifted its stake in shares of Paragon 28 by 36.4% during the second quarter. XTX Topco Ltd now owns 22,335 shares of the company’s stock worth $153,000 after buying an additional 5,963 shares during the period. 63.57% of the stock is currently owned by institutional investors and hedge funds.

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.