Paragon 28 (NYSE:FNA) Shares Up 5.2% – Still a Buy?

Shares of Paragon 28, Inc. (NYSE:FNA) rose 5.2% during trading on Tuesday . The company traded as high as $10.63 and last traded at $10.52. Approximately 317,424 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 607,096 shares. The stock had previously closed at $10.00.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group reduced their price objective 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. Finally, Stephens raised shares of Paragon 28 to a “strong-buy” rating in a research 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 stock. According to MarketBeat, Paragon 28 currently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Stock Up 5.0 %

The company has a market cap of $879.06 million, a price-to-earnings ratio of -14.19 and a beta of 1.50. The stock has a 50-day simple moving average of $7.45 and a 200-day simple moving average of $7.38. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79.

Paragon 28 (NYSE:FNA) last posted 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. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The business had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $60.58 million. During the same period last year, the firm posted ($0.10) earnings per share. The business’s revenue was up 18.0% on a year-over-year basis. As a group, analysts predict that Paragon 28, Inc. will post -0.66 EPS for the current year.

Insider Transactions at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 147,581 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $10.28, for a total value of $1,517,132.68. Following the transaction, the insider now owns 10,738,564 shares in the company, valued at $110,392,437.92. The trade was a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 252,914 shares of company stock valued at $2,585,514 over the last ninety days. Corporate insiders own 15.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its stake in Paragon 28 by 46,660.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $32,000 after purchasing an additional 4,666 shares during the period. Levin Capital Strategies L.P. bought a new stake in shares of Paragon 28 in the second quarter valued at approximately $68,000. Intech Investment Management LLC bought a new stake in shares of Paragon 28 in the third quarter valued at approximately $70,000. Ballentine Partners LLC acquired a new stake in shares of Paragon 28 in the third quarter worth $91,000. Finally, Creative Planning bought a new position in Paragon 28 during the third quarter worth $91,000. 63.57% of the stock is owned by institutional investors.

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.