Zacks Investment Research Downgrades Paragon 28 (NYSE:FNA) to Hold

Zacks Investment Research downgraded shares of Paragon 28 (NYSE:FNAGet Rating) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Paragon 28 Inc. is a medical device company exclusively focused on the foot and ankle orthopedic market. Paragon 28 Inc. is based in ENGLEWOOD, Colo. “

Other equities research analysts have also issued reports about the company. Bank of America decreased their target price on Paragon 28 from $30.00 to $25.00 and set a buy rating for the company in a research report on Wednesday, March 9th. Canaccord Genuity Group cut their price target on Paragon 28 from $23.00 to $20.00 in a research note on Tuesday. Canaccord Genuity Group lowered their price objective on shares of Paragon 28 from $25.00 to $23.00 and set a buy rating for the company in a research note on Wednesday, March 9th. Finally, Needham & Company LLC cut their target price on shares of Paragon 28 from $31.00 to $25.00 and set a buy rating on the stock in a research report on Wednesday, February 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Buy and an average target price of $25.00.

Shares of FNA opened at $14.06 on Tuesday. Paragon 28 has a 1-year low of $12.84 and a 1-year high of $25.41. The firm’s 50-day moving average is $17.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.29 and a quick ratio of 4.10.

Paragon 28 (NYSE:FNAGet Rating) last issued its earnings results on Monday, May 9th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Research analysts forecast that Paragon 28 will post -0.2 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio purchased a new position in Paragon 28 during the 4th quarter worth $37,000. Citigroup Inc. purchased a new stake in shares of Paragon 28 during the fourth quarter worth about $42,000. JPMorgan Chase & Co. acquired a new position in shares of Paragon 28 during the fourth quarter valued at about $61,000. California State Teachers Retirement System purchased a new position in shares of Paragon 28 in the 4th quarter valued at approximately $88,000. Finally, Wells Fargo & Company MN purchased a new stake in Paragon 28 during the 4th quarter worth approximately $97,000. Hedge funds and other institutional investors own 12.31% of the company’s stock.

About Paragon 28 (Get Rating)

Paragon 28, Inc designs, 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.

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