William Blair Downgrades Paragon 28 (NYSE:FNA) to Market Perform

Paragon 28 (NYSE:FNA) was downgraded by William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports.

Several other research firms have also commented on FNA. Canaccord Genuity Group lowered their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Stephens upgraded Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $13.00 price target on shares of Paragon 28 in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $15.60.

Paragon 28 Stock Up 2.8 %

Shares of NYSE:FNA opened at $12.00 on Wednesday. Paragon 28 has a 52-week low of $4.65 and a 52-week high of $14.79. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. The business has a fifty day moving average of $10.45 and a two-hundred day moving average of $8.32. The stock has a market cap of $1.00 billion, a P/E ratio of -16.22 and a beta of 1.50.

Paragon 28 (NYSE:FNA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $60.58 million. During the same period last year, the business earned ($0.10) earnings per share. Paragon 28’s revenue was up 18.0% compared to the same quarter last year. On average, research analysts expect that Paragon 28 will post -0.64 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Mvm Partners, Llc sold 147,581 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $10.28, for a total transaction of $1,517,132.68. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 273,050 shares of company stock worth $2,819,696 over the last 90 days. 15.32% of the stock is owned by insiders.

Institutional Trading of Paragon 28

Several institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in Paragon 28 during the 3rd quarter worth $70,000. Creative Planning acquired a new stake in shares of Paragon 28 during the third quarter worth about $91,000. Ballentine Partners LLC purchased a new stake in shares of Paragon 28 in the 3rd quarter valued at about $91,000. Hsbc Holdings PLC acquired a new stake in shares of Paragon 28 in the 2nd quarter valued at about $104,000. Finally, Commerce Bank grew its stake in Paragon 28 by 28.5% during the 3rd quarter. Commerce Bank now owns 18,350 shares of the company’s stock worth $123,000 after buying an additional 4,075 shares during the last quarter. Hedge funds and other institutional investors own 63.57% of the company’s stock.

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.