Balyasny Asset Management L.P. Acquires Shares of 13,288 Paragon 28, Inc. (NYSE:FNA)

Balyasny Asset Management L.P. acquired a new position in shares of Paragon 28, Inc. (NYSE:FNA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,288 shares of the company’s stock, valued at approximately $137,000.

Several other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new position in shares of Paragon 28 during the fourth quarter valued at about $36,000. AlphaQuest LLC increased its stake in Paragon 28 by 33.6% in the 4th quarter. AlphaQuest LLC now owns 3,680 shares of the company’s stock valued at $38,000 after buying an additional 925 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Paragon 28 during the 4th quarter worth approximately $94,000. New York State Common Retirement Fund boosted its stake in shares of Paragon 28 by 374.6% in the 4th quarter. New York State Common Retirement Fund now owns 14,570 shares of the company’s stock worth $151,000 after buying an additional 11,500 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Paragon 28 by 15.0% in the fourth quarter. Ballentine Partners LLC now owns 15,630 shares of the company’s stock valued at $161,000 after acquiring an additional 2,043 shares in the last quarter. Institutional investors own 63.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Canaccord Genuity Group set a $13.00 price target on Paragon 28 in a research report on Wednesday, January 29th. Needham & Company LLC reiterated a “hold” rating and set a $13.00 target price on shares of Paragon 28 in a research note on Wednesday, January 29th. Stephens reissued an “equal weight” rating and issued a $13.00 price target (down from $14.00) on shares of Paragon 28 in a report on Thursday, January 30th. Finally, William Blair downgraded shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.75.

Paragon 28 Stock Performance

NYSE:FNA opened at $13.11 on Monday. The company has a market capitalization of $1.10 billion, a P/E ratio of -17.71 and a beta of 1.47. The business has a fifty day simple moving average of $13.06 and a two-hundred day simple moving average of $11.70. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. Paragon 28, Inc. has a 1 year low of $4.65 and a 1 year high of $13.13.

Paragon 28 (NYSE:FNA) last announced 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 return on equity of 37.90% and a negative net margin of 25.31%. The firm had revenue of $71.75 million during the quarter, compared to analysts’ expectations of $70.81 million. On average, analysts expect that Paragon 28, Inc. will post -0.64 earnings per share for the current year.

Insider Activity

In other news, major shareholder Mvm Partners, Llc sold 164,664 shares of Paragon 28 stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $13.01, for a total value of $2,142,278.64. Following the completion of the transaction, the insider now directly owns 8,854,883 shares in the company, valued at approximately $115,202,027.83. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,828,706 shares of company stock valued at $23,810,399 over the last quarter. Company insiders own 15.32% of the company’s stock.

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.