Franklin Resources Inc. acquired a new stake in shares of Paragon 28, Inc. (NYSE:FNA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,083 shares of the company's stock, valued at approximately $228,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FNA. JPMorgan Chase & Co. lifted its holdings in shares of Paragon 28 by 2,141.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company's stock valued at $5,243,000 after buying an additional 749,865 shares during the last quarter. Vanguard Group Inc. lifted its stake in Paragon 28 by 17.9% in the fourth quarter. Vanguard Group Inc. now owns 2,809,109 shares of the company's stock valued at $29,018,000 after acquiring an additional 425,983 shares during the last quarter. Barclays PLC lifted its stake in Paragon 28 by 180.6% in the third quarter. Barclays PLC now owns 84,812 shares of the company's stock valued at $567,000 after acquiring an additional 54,591 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Paragon 28 in the fourth quarter worth approximately $547,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Paragon 28 during the 4th quarter valued at $505,000. Hedge funds and other institutional investors own 63.57% of the company's stock.
Paragon 28 Stock Performance
NYSE:FNA traded up $0.02 during mid-day trading on Thursday, hitting $13.11. 19,380,085 shares of the company's stock traded hands, compared to its average volume of 1,073,924. 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 firm has a 50 day moving average of $13.03 and a two-hundred day moving average of $10.70. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -17.71 and a beta of 1.47. Paragon 28, Inc. has a 12 month low of $4.65 and a 12 month high of $13.13.
Paragon 28 (NYSE:FNA - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $71.75 million during the quarter, compared to analyst estimates of $70.81 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. On average, equities analysts forecast that Paragon 28, Inc. will post -0.64 earnings per share for the current fiscal year.
Insider Activity at Paragon 28
In other news, major shareholder Mvm Partners, Llc sold 1,044,295 shares of Paragon 28 stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $13.04, for a total transaction of $13,617,606.80. Following the sale, the insider now owns 7,810,588 shares of the company's stock, valued at approximately $101,850,067.52. This trade represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 1,855,848 shares of company stock worth $24,125,789. Company insiders own 15.32% of the company's stock.
Wall Street Analyst Weigh In
FNA has been the subject of a number of recent research reports. William Blair cut shares of Paragon 28 from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. Stephens reiterated an "equal weight" rating and set a $13.00 price target (down previously from $14.00) on shares of Paragon 28 in a research note on Thursday, January 30th. Needham & Company LLC reissued a "hold" rating and issued a $13.00 price objective on shares of Paragon 28 in a research note on Wednesday, January 29th. Finally, Canaccord Genuity Group set a $13.00 target price on Paragon 28 in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $14.20.
Read Our Latest Stock Analysis on Paragon 28
About Paragon 28
(
Free Report)
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.
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