Paragon 28 (NYSE:FNA) Upgraded to “Hold” at Zacks Investment Research

Paragon 28 (NYSE:FNA – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, 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 analysts have also recently issued reports about the company. Needham & Company LLC dropped their target price on Paragon 28 from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, February 9th. Canaccord Genuity Group dropped their target price on Paragon 28 from $23.00 to $20.00 in a report on Tuesday, May 10th. Canaccord Genuity Group dropped their price target on Paragon 28 from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, March 9th. Finally, Bank of America dropped their price target on Paragon 28 from $30.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, March 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $25.00.

Shares of FNA opened at $16.75 on Tuesday. Paragon 28 has a 1 year low of $12.35 and a 1 year high of $25.41. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.39 and a quick ratio of 3.26. The stock has a 50 day simple moving average of $16.91 and a 200-day simple moving average of $17.07.

Paragon 28 (NYSE:FNA – Get Rating) last issued its earnings results on Monday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). As a group, research analysts forecast that Paragon 28 will post -0.22 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors Inc. bought a new position in Paragon 28 in the 4th quarter valued at $42,541,000. First Light Asset Management LLC boosted its position in Paragon 28 by 54.8% in 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 buying an additional 395,762 shares during the last quarter. Millennium Management LLC bought a new position in Paragon 28 in the 4th quarter valued at $13,058,000. TimesSquare Capital Management LLC bought a new position in Paragon 28 in the 4th quarter valued at $12,611,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in Paragon 28 by 42.9% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 523,352 shares of the company’s stock valued at $8,761,000 after buying an additional 157,092 shares during the last quarter. Hedge funds and other institutional investors own 12.31% of the company’s stock.

Paragon 28 Company Profile (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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