KLP Kapitalforvaltning AS Makes New Investment in Paragon 28, Inc. (NYSE:FNA)

KLP Kapitalforvaltning AS purchased a new stake in shares of Paragon 28, Inc. (NYSE:FNA) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,100 shares of the company’s stock, valued at approximately $94,000.

Other hedge funds have also modified their holdings of the company. Barclays PLC boosted its position in Paragon 28 by 180.6% in the third quarter. Barclays PLC now owns 84,812 shares of the company’s stock valued at $567,000 after buying an additional 54,591 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Paragon 28 by 2,141.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock valued at $5,243,000 after acquiring an additional 749,865 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Paragon 28 by 374.6% in the fourth quarter. New York State Common Retirement Fund now owns 14,570 shares of the company’s stock worth $151,000 after acquiring an additional 11,500 shares during the period. Rhumbline Advisers raised its holdings in shares of Paragon 28 by 1.7% during the fourth quarter. Rhumbline Advisers now owns 62,861 shares of the company’s stock worth $649,000 after purchasing an additional 1,024 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in Paragon 28 by 15.0% during the fourth quarter. Ballentine Partners LLC now owns 15,630 shares of the company’s stock valued at $161,000 after purchasing an additional 2,043 shares during the period. 63.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FNA. Stephens reiterated an “equal weight” rating and set a $13.00 price objective (down previously from $14.00) on shares of Paragon 28 in a research note on Thursday, January 30th. Canaccord Genuity Group set a $13.00 price target on Paragon 28 in a research report on Wednesday, January 29th. Needham & Company LLC restated a “hold” rating and issued a $13.00 price objective on shares of Paragon 28 in a research report on Wednesday, January 29th. Finally, William Blair lowered shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.20.

Paragon 28 Stock Performance

Shares of FNA stock opened at $13.01 on Friday. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. Paragon 28, Inc. has a 12-month low of $4.65 and a 12-month high of $13.13. The business’s 50 day moving average is $13.03 and its two-hundred day moving average is $10.31. The company has a market capitalization of $1.09 billion, a P/E ratio of -17.57 and a beta of 1.47.

Paragon 28 (NYSE:FNA) last announced its earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $71.75 million for the quarter, compared to analysts’ expectations of $70.81 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. Analysts expect that Paragon 28, Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Mvm Partners, Llc sold 20,136 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $11.63, for a total transaction of $234,181.68. Following the transaction, the insider now directly owns 10,366,009 shares in the company, valued at approximately $120,556,684.67. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,875,984 shares of company stock worth $24,359,971 over the last 90 days. 15.32% of the stock is currently owned by company insiders.

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.