Franklin Resources Inc. Buys New Shares in Paragon 28, Inc. (NYSE:FNA)

Franklin Resources Inc. bought a new position in shares of Paragon 28, Inc. (NYSE:FNA) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,083 shares of the company’s stock, valued at approximately $228,000.

Several other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Paragon 28 by 2,141.7% during the third quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock worth $5,243,000 after buying an additional 749,865 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Paragon 28 by 17.9% during the 4th quarter. Vanguard Group Inc. now owns 2,809,109 shares of the company’s stock worth $29,018,000 after acquiring an additional 425,983 shares during the period. Barclays PLC boosted its position in shares of Paragon 28 by 180.6% during the 3rd quarter. Barclays PLC now owns 84,812 shares of the company’s stock valued at $567,000 after acquiring an additional 54,591 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Paragon 28 in the fourth quarter valued at about $547,000. Finally, Los Angeles Capital Management LLC acquired a new position in Paragon 28 in the fourth quarter worth about $505,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, major shareholder Mvm Partners, Llc sold 27,142 shares of Paragon 28 stock in a transaction on Monday, January 27th. The stock was sold at an average price of $11.62, for a total value of $315,390.04. Following the completion of the sale, the insider now directly owns 10,313,841 shares of the company’s stock, valued at approximately $119,846,832.42. This trade represents a 0.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,875,984 shares of company stock worth $24,359,971 in the last quarter. Insiders own 15.32% of the company’s stock.

Paragon 28 Stock Performance

Shares of NYSE:FNA opened at $13.09 on Friday. The business has a fifty day moving average of $13.03 and a 200-day moving average of $10.55. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. Paragon 28, Inc. has a twelve month low of $4.65 and a twelve month high of $13.13. The firm has a market cap of $1.10 billion, a PE ratio of -17.69 and a beta of 1.47.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The company had revenue of $71.75 million during the quarter, compared to analyst estimates of $70.81 million. On average, equities research analysts predict that Paragon 28, Inc. will post -0.64 EPS for the current fiscal year.

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.