Paragon 28 (NYSE:FNA) Shares Down 4.4%

Paragon 28, Inc. (NYSE:FNA) shares were down 4.4% during trading on Monday . The company traded as low as $9.74 and last traded at $9.80. Approximately 106,237 shares were traded during trading, a decline of 80% from the average daily volume of 540,754 shares. The stock had previously closed at $10.25.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FNA shares. Stephens reaffirmed an “overweight” rating and set a $18.00 price target on shares of Paragon 28 in a research report on Friday, April 5th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price target on shares of Paragon 28 in a research report on Wednesday, March 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Paragon 28 in a research report on Thursday, April 4th.

Paragon 28 Trading Down 1.9 %

The business has a fifty day simple moving average of $11.56 and a two-hundred day simple moving average of $11.21. 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 (NYSE:FNA) last posted its earnings results on Thursday, February 29th. The company reported ($0.19) earnings per share 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%. The firm had revenue of $60.56 million for the quarter, compared to analysts’ expectations of $60.73 million. On average, analysts expect that Paragon 28, Inc. will post -0.43 EPS for the current year.

Insider Buying and Selling

In related news, insider Albert Dacosta purchased 28,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $9.12 per share, for a total transaction of $255,360.00. Following the purchase, the insider now directly owns 5,339,110 shares of the company’s stock, valued at approximately $48,692,683.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.32% of the stock is currently owned by company insiders.

Institutional Trading of Paragon 28

Several institutional investors have recently added to or reduced their stakes in FNA. JPMorgan Chase & Co. boosted its stake in Paragon 28 by 22.9% during the 1st quarter. JPMorgan Chase & Co. now owns 4,252 shares of the company’s stock valued at $71,000 after purchasing an additional 793 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Paragon 28 by 72.2% during the 1st quarter. Bank of New York Mellon Corp now owns 25,479 shares of the company’s stock valued at $426,000 after purchasing an additional 10,685 shares during the last quarter. BlackRock Inc. boosted its stake in Paragon 28 by 11.1% during the 1st quarter. BlackRock Inc. now owns 502,249 shares of the company’s stock valued at $8,408,000 after purchasing an additional 50,345 shares during the last quarter. First Light Asset Management LLC boosted its stake in Paragon 28 by 54.8% during the 1st quarter. First Light Asset Management LLC now owns 1,118,603 shares of the company’s stock valued at $18,725,000 after purchasing an additional 395,762 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Paragon 28 by 9.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 59,922 shares of the company’s stock valued at $1,004,000 after purchasing an additional 5,393 shares during the last quarter. 63.57% of the stock is currently owned by hedge funds and other 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.