Paragon 28 (NYSE:FNA) Sets New 52-Week Low on Analyst Downgrade

Shares of Paragon 28, Inc. (NYSE:FNA) hit a new 52-week low during mid-day trading on Thursday after Needham & Company LLC lowered their price target on the stock from $17.00 to $14.00. Needham & Company LLC currently has a buy rating on the stock. Paragon 28 traded as low as $7.61 and last traded at $8.21, with a volume of 259666 shares traded. The stock had previously closed at $9.50.

Several other equities research analysts also recently issued reports on FNA. Stephens restated an “overweight” rating and set a $18.00 price objective on shares of Paragon 28 in a research report on Friday, April 5th. Piper Sandler reissued an “overweight” rating and issued a $18.00 target price on shares of Paragon 28 in a research report on Wednesday, March 27th.

Insider Activity at Paragon 28

In related news, insider Albert Dacosta acquired 28,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average cost of $9.12 per share, with a total value of $255,360.00. Following the completion of the purchase, 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. 15.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Inspire Investing LLC bought a new position in Paragon 28 during the first quarter valued at about $361,000. Swiss National Bank raised its position in shares of Paragon 28 by 12.7% in the first quarter. Swiss National Bank now owns 73,400 shares of the company’s stock valued at $906,000 after purchasing an additional 8,300 shares during the period. Capstone Investment Advisors LLC lifted its stake in shares of Paragon 28 by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $269,000 after buying an additional 1,800 shares in the last quarter. HighMark Wealth Management LLC boosted its holdings in Paragon 28 by 1,107.6% in the 1st quarter. HighMark Wealth Management LLC now owns 96,611 shares of the company’s stock worth $1,193,000 after buying an additional 88,611 shares during the period. Finally, PNC Financial Services Group Inc. bought a new stake in Paragon 28 during the 4th quarter valued at $25,000. 63.57% of the stock is owned by institutional investors and hedge funds.

Paragon 28 Trading Down 13.6 %

The stock has a market cap of $680.69 million, a PE ratio of -16.38 and a beta of 1.12. 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 firm has a 50-day simple moving average of $10.31 and a 200-day simple moving average of $11.12.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.09). The business had revenue of $60.56 million for the quarter, compared to analysts’ expectations of $60.73 million. Paragon 28 had a negative return on equity of 22.51% and a negative net margin of 22.11%. Equities analysts forecast that Paragon 28, Inc. will post -0.43 earnings per share for the current year.

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.