Paragon 28 (NYSE:FNA) Reaches New 1-Year Low After Analyst Downgrade

Paragon 28, Inc. (NYSE:FNA)’s share price hit a new 52-week low on Thursday after JMP Securities lowered their price target on the stock from $23.00 to $20.00. JMP Securities currently has a market outperform rating on the stock. Paragon 28 traded as low as $7.61 and last traded at $8.21, with a volume of 259666 shares trading hands. The stock had previously closed at $9.50.

A number of other equities research analysts also recently weighed in on the company. Needham & Company LLC decreased their price objective on Paragon 28 from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday. Stephens reiterated an “overweight” rating and issued a $18.00 price target on shares of Paragon 28 in a research report on Friday, April 5th. Finally, Piper Sandler reissued an “overweight” rating and set a $15.00 price objective (down from $18.00) on shares of Paragon 28 in a report on Thursday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Paragon 28 has an average rating of “Buy” and a consensus target price of $16.75.

Insider Activity at Paragon 28

In other Paragon 28 news, insider Albert Dacosta acquired 28,000 shares of Paragon 28 stock in a transaction on Friday, March 15th. The shares were bought at an average price of $9.12 per share, with a total value of $255,360.00. Following the completion of the purchase, the insider now owns 5,339,110 shares in the company, valued at $48,692,683.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 15.32% of the company’s stock.

Hedge Funds Weigh In On Paragon 28

A number of institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. acquired a new stake in shares of Paragon 28 in the fourth quarter valued at approximately $25,000. HighMark Wealth Management LLC acquired a new stake in shares of Paragon 28 in the 4th quarter valued at $99,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Paragon 28 by 91.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,984 shares of the company’s stock worth $138,000 after acquiring an additional 5,234 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Paragon 28 during the third quarter valued at $142,000. Finally, Capstone Investment Advisors LLC bought a new position in Paragon 28 in the fourth quarter valued at about $249,000. 63.57% of the stock is owned by institutional investors.

Paragon 28 Stock Performance

The stock has a market capitalization of $684.01 million, a price-to-earnings ratio of -14.22 and a beta of 1.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.21 and a quick ratio of 2.30. The stock has a 50-day moving average of $10.22 and a 200 day moving average of $11.10.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate 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 business had revenue of $60.56 million for the quarter, compared to analyst estimates of $60.73 million. On average, analysts expect that Paragon 28, Inc. will post -0.43 EPS for the current year.

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.