Shares of Paragon 28, Inc. (NYSE:FNA - Get Free Report) dropped 9.7% on Wednesday . The stock traded as low as $9.49 and last traded at $9.51. Approximately 715,461 shares changed hands during trading, an increase of 38% from the average daily volume of 519,842 shares. The stock had previously closed at $10.53.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on FNA shares. Piper Sandler reaffirmed an "overweight" rating and set a $18.00 target price on shares of Paragon 28 in a report on Wednesday, March 27th. Stephens reaffirmed an "overweight" rating and set a $18.00 price target on shares of Paragon 28 in a report on Friday, April 5th. Finally, Needham & Company LLC restated a "buy" rating and set a $17.00 price objective on shares of Paragon 28 in a research report on Thursday, April 4th.
Get Our Latest Report on FNA
Paragon 28 Trading Down 9.8 %
The company has a market capitalization of $787.65 million, a price-to-earnings ratio of -17.28 and a beta of 1.12. The company has a current ratio of 4.21, a quick ratio of 2.30 and a debt-to-equity ratio of 0.62. The business's 50 day moving average price is $10.36 and its two-hundred day moving average price is $11.14.
Paragon 28 (NYSE:FNA - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.09). Paragon 28 had a negative net margin of 22.11% and a negative return on equity of 22.51%. The firm had revenue of $60.56 million during the quarter, compared to the consensus estimate of $60.73 million. On average, equities analysts predict that Paragon 28, Inc. will post -0.43 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Albert Dacosta purchased 28,000 shares of Paragon 28 stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $9.12 per share, for a total transaction of $255,360.00. Following the transaction, the insider now 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 SEC, which is available at this hyperlink. Insiders own 15.32% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of FNA. SG Americas Securities LLC bought a new position in shares of Paragon 28 during the 3rd quarter worth approximately $444,000. Bank of New York Mellon Corp boosted its position in Paragon 28 by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 154,134 shares of the company's stock worth $1,934,000 after purchasing an additional 3,615 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Paragon 28 by 91.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,984 shares of the company's stock valued at $138,000 after purchasing an additional 5,234 shares during the period. Roubaix Capital LLC bought a new position in Paragon 28 in the 3rd quarter valued at $2,603,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Paragon 28 during the 3rd quarter valued at $142,000. 63.57% of the stock is owned by institutional investors.
About Paragon 28
(
Get 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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Paragon 28, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paragon 28 wasn't on the list.
While Paragon 28 currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
