Canaccord Genuity Group Lowers Paragon 28 (NYSE:FNA) Price Target to $15.00

Paragon 28 (NYSE:FNA) had its price target decreased by Canaccord Genuity Group from $17.00 to $15.00 in a report released on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

FNA has been the topic of a number of other research reports. Needham & Company LLC lifted their price objective on Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $12.00 price target (down previously from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Stock Up 3.2 %

FNA opened at $10.01 on Wednesday. The company has a market cap of $838.04 million, a PE ratio of -13.53 and a beta of 1.01. The company has a 50-day moving average price of $6.43 and a 200 day moving average price of $7.24. Paragon 28 has a twelve month low of $4.65 and a twelve month high of $14.79. The company has a quick ratio of 1.70, a current ratio of 3.50 and a debt-to-equity ratio of 0.79.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The firm had revenue of $62.30 million for the quarter, compared to analyst estimates of $60.58 million. During the same period in the previous year, the business posted ($0.10) earnings per share. Paragon 28’s quarterly revenue was up 18.0% on a year-over-year basis. Sell-side analysts expect that Paragon 28 will post -0.68 earnings per share for the current fiscal year.

Institutional Trading of Paragon 28

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in Paragon 28 by 46,660.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $32,000 after acquiring an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in Paragon 28 in the second quarter valued at $68,000. Intech Investment Management LLC purchased a new stake in Paragon 28 during the third quarter worth approximately $70,000. Ballentine Partners LLC purchased a new stake in shares of Paragon 28 during the 3rd quarter worth approximately $91,000. Finally, Creative Planning acquired a new position in Paragon 28 in the third quarter valued at $91,000. 63.57% of the stock is currently owned by institutional investors and hedge funds.

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.