Paragon 28, Inc. (NYSE:FNA) Short Interest Update

Paragon 28, Inc. (NYSE:FNA) saw a significant decline in short interest in November. As of November 15th, there was short interest totalling 4,520,000 shares, a decline of 33.3% from the October 31st total of 6,780,000 shares. Based on an average daily volume of 559,500 shares, the short-interest ratio is presently 8.1 days. Currently, 11.7% of the shares of the company are short sold.

Insider Buying and Selling at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 72,133 shares of Paragon 28 stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $10.16, for a total transaction of $732,871.28. Following the transaction, the insider now owns 10,559,065 shares in the company, valued at approximately $107,280,100.40. The trade was a 0.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 234,805 shares of company stock valued at $2,401,889. Company insiders own 15.32% of the company’s stock.

Institutional Investors Weigh In On Paragon 28

Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Paragon 28 by 16.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock worth $156,000 after acquiring an additional 1,766 shares during the period. The Manufacturers Life Insurance Company increased its position in Paragon 28 by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company’s stock worth $178,000 after purchasing an additional 2,142 shares during the last quarter. Rhumbline Advisers boosted its holdings in Paragon 28 by 6.0% in the 2nd quarter. Rhumbline Advisers now owns 65,727 shares of the company’s stock valued at $450,000 after purchasing an additional 3,720 shares during the last quarter. Commerce Bank grew its stake in shares of Paragon 28 by 28.5% in the 3rd quarter. Commerce Bank now owns 18,350 shares of the company’s stock valued at $123,000 after buying an additional 4,075 shares during the period. Finally, Algert Global LLC increased its holdings in shares of Paragon 28 by 12.0% during the 2nd quarter. Algert Global LLC now owns 38,793 shares of the company’s stock worth $265,000 after buying an additional 4,157 shares during the last quarter. 63.57% of the stock is currently owned by institutional investors and hedge funds.

Paragon 28 Stock Performance

Shares of NYSE:FNA traded up $0.32 on Friday, hitting $10.31. 340,834 shares of the company were exchanged, compared to its average volume of 849,226. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. The stock’s 50 day moving average price is $7.02 and its 200 day moving average price is $7.29. Paragon 28 has a 1-year low of $4.65 and a 1-year high of $14.79. The firm has a market capitalization of $863.15 million, a P/E ratio of -13.93 and a beta of 1.01.

Paragon 28 (NYSE:FNA) last posted 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 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 for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) EPS. Sell-side analysts predict that Paragon 28 will post -0.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FNA. Needham & Company LLC raised their price objective on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group dropped their price objective on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $12.00 target price (down previously from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Paragon 28 currently has a consensus rating of “Buy” and an average price target of $15.60.

About Paragon 28

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.