Paragon 28 (NYSE:FNA) Stock Price Up 4.9%

Paragon 28, Inc. (NYSE:FNA) shares traded up 4.9% during trading on Tuesday . The stock traded as high as $9.84 and last traded at $9.84. 56,392 shares were traded during mid-day trading, a decline of 88% from the average session volume of 478,968 shares. The stock had previously closed at $9.38.

Wall Street Analysts Forecast Growth

FNA has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and set a $18.00 price target on shares of Paragon 28 in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price objective on shares of Paragon 28 in a research report on Thursday.

Paragon 28 Stock Performance

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 company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -21.29 and a beta of 1.02. The stock has a 50-day simple moving average of $12.03 and a 200-day simple moving average of $11.45.

Paragon 28 (NYSE:FNA) last posted 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 return on equity of 22.51% and a negative net margin of 22.11%. On average, analysts anticipate that Paragon 28, Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Albert Dacosta bought 28,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was 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 in the company, valued at $48,692,683.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its holdings in Paragon 28 by 4.8% in the 4th quarter. Legal & General Group Plc now owns 12,669 shares of the company’s stock valued at $242,000 after acquiring an additional 576 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Paragon 28 by 22.9% during the first quarter. JPMorgan Chase & Co. now owns 4,252 shares of the company’s stock worth $71,000 after buying an additional 793 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Paragon 28 by 6.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 18,508 shares of the company’s stock worth $354,000 after buying an additional 1,054 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Paragon 28 by 1.8% in the first quarter. Northern Trust Corp now owns 77,061 shares of the company’s stock valued at $1,290,000 after buying an additional 1,343 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in shares of Paragon 28 by 0.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 338,695 shares of the company’s stock valued at $4,251,000 after acquiring an additional 1,600 shares during the last quarter. 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.