JMP Securities Lowers Paragon 28 (NYSE:FNA) Price Target to $20.00

Paragon 28 (NYSE:FNA - Get Free Report) had its price target reduced by analysts at JMP Securities from $23.00 to $20.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' price target points to a potential upside of 142.42% from the company's previous close.

A number of other equities analysts have also recently issued reports on FNA. Stephens reaffirmed an "overweight" rating and issued a $18.00 target price on shares of Paragon 28 in a report on Friday, April 5th. Piper Sandler reissued an "overweight" rating and issued a $15.00 price target (down previously from $18.00) on shares of Paragon 28 in a research note on Thursday. Finally, Needham & Company LLC decreased their price target on Paragon 28 from $17.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Paragon 28 presently has an average rating of "Buy" and an average target price of $16.75.

Paragon 28 Price Performance

Shares of FNA stock traded down $1.25 on Thursday, hitting $8.25. 1,939,520 shares of the company's stock were exchanged, compared to its average volume of 538,355. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.21 and a quick ratio of 2.30. Paragon 28 has a 12 month low of $7.61 and a 12 month high of $19.00. The stock has a market cap of $684.01 million, a P/E ratio of -14.22 and a beta of 1.12. The company has a 50 day moving average of $10.22 and a 200 day moving average of $11.10.

Paragon 28 (NYSE:FNA - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.09). Paragon 28 had a negative return on equity of 22.51% and a negative net margin of 22.11%. The firm had revenue of $60.56 million during the quarter, compared to analyst estimates of $60.73 million. On average, equities research analysts predict that Paragon 28 will post -0.43 EPS for the current year.

Insider Buying and Selling

In other Paragon 28 news, insider Albert Dacosta bought 28,000 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average price of $9.12 per share, with a total value of $255,360.00. Following the completion of the purchase, the insider now directly owns 5,339,110 shares of the company's stock, valued at approximately $48,692,683.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paragon 28

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Paragon 28 by 12.2% during the third quarter. Vanguard Group Inc. now owns 2,001,692 shares of the company's stock worth $25,121,000 after acquiring an additional 217,246 shares during the period. Braidwell LP lifted its holdings in Paragon 28 by 57.4% during the third quarter. Braidwell LP now owns 3,361,824 shares of the company's stock worth $42,191,000 after acquiring an additional 1,225,702 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Paragon 28 by 27.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 307,759 shares of the company's stock worth $3,862,000 after acquiring an additional 66,473 shares during the period. Panagora Asset Management Inc. bought a new stake in Paragon 28 during the third quarter worth $142,000. Finally, SG Americas Securities LLC bought a new stake in Paragon 28 during the third quarter worth $444,000. Institutional investors and hedge funds 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.