Paragon 28’s (FNA) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Paragon 28 (NYSE:FNA) in a research note published on Wednesday, Benzinga reports. The brokerage currently has a $18.00 target price on the stock.

Separately, Needham & Company LLC upped their price objective on shares of Paragon 28 from $16.00 to $17.00 and gave the company a buy rating in a report on Friday, March 1st.

Paragon 28 Trading Up 16.3 %

Shares of FNA opened at $11.92 on Wednesday. The company has a current ratio of 4.21, a quick ratio of 2.30 and a debt-to-equity ratio of 0.62. Paragon 28 has a 12-month low of $7.95 and a 12-month high of $19.72. The firm has a 50-day moving average price of $12.00 and a 200 day moving average price of $11.44. The firm has a market capitalization of $987.45 million, a P/E ratio of -20.55 and a beta of 1.02.

Paragon 28 (NYSE:FNA) last announced its quarterly earnings data 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 net margin of 22.11% and a negative return on equity of 22.51%. Sell-side analysts forecast that Paragon 28 will post -0.42 EPS for the current year.

Insider Buying and Selling at Paragon 28

In related news, insider Albert Dacosta bought 28,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were bought at an average price of $9.12 per share, with a total value of $255,360.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Paragon 28

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. acquired a new stake in shares of Paragon 28 during the fourth quarter worth about $25,000. Tower Research Capital LLC TRC lifted its position in shares of Paragon 28 by 203.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,450 shares of the company’s stock worth $61,000 after purchasing an additional 2,312 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 purchasing an additional 793 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Paragon 28 during the second quarter worth about $92,000. Finally, HighMark Wealth Management LLC acquired a new stake in Paragon 28 in the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

About Paragon 28

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.