Paragon 28 (NYSE:FNA) Given Overweight Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Paragon 28 (NYSE:FNA - Free Report) in a research report sent to investors on Thursday, Benzinga reports. Piper Sandler currently has a $15.00 price target on the stock, down from their prior price target of $18.00.

A number of other equities research analysts also recently weighed in on the company. Stephens restated an overweight rating and set a $18.00 target price on shares of Paragon 28 in a research report on Friday, April 5th. Needham & Company LLC dropped their price objective on Paragon 28 from $17.00 to $14.00 and set a buy rating for the company in a report on Thursday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Paragon 28 presently has an average rating of Buy and an average price target of $16.75.

Paragon 28 Price Performance

NYSE:FNA traded down $1.25 during mid-day trading on Thursday, reaching $8.25. 1,939,520 shares of the company were exchanged, compared to its average volume of 538,355. The company has a quick ratio of 2.30, a current ratio of 4.21 and a debt-to-equity ratio of 0.62. The stock has a market cap of $684.01 million, a PE ratio of -14.12 and a beta of 1.12. Paragon 28 has a 12 month low of $7.61 and a 12 month high of $19.00. The company has a fifty day moving average of $10.31 and a 200 day moving average of $11.12.

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

Insider Transactions at Paragon 28

In other news, insider Albert Dacosta acquired 28,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average price of $9.12 per share, for a total transaction of $255,360.00. Following the transaction, the insider now directly owns 5,339,110 shares in the company, valued at $48,692,683.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 15.32% of the company's stock.

Institutional Investors Weigh In On Paragon 28

Several institutional investors have recently added to or reduced their stakes in FNA. Vanguard Group Inc. raised its position in shares of Paragon 28 by 12.2% in the third quarter. Vanguard Group Inc. now owns 2,001,692 shares of the company's stock valued at $25,121,000 after purchasing an additional 217,246 shares during the period. Braidwell LP increased its position 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. raised its stake in Paragon 28 by 27.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 307,759 shares of the company's stock worth $3,862,000 after purchasing an additional 66,473 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in Paragon 28 in the 3rd quarter valued at about $142,000. Finally, SG Americas Securities LLC acquired a new position in shares of Paragon 28 during the 3rd quarter worth approximately $444,000. 63.57% of the stock is owned by institutional investors.

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.