Bank of America Corp DE Cuts Stock Position in Paragon 28, Inc. (NYSE:FNA)

Bank of America Corp DE trimmed its position in shares of Paragon 28, Inc. (NYSE:FNA) by 9.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 784,660 shares of the company’s stock after selling 78,980 shares during the quarter. Bank of America Corp DE owned 0.94% of Paragon 28 worth $8,106,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FNA. Ballentine Partners LLC boosted its position in Paragon 28 by 15.0% in the 4th quarter. Ballentine Partners LLC now owns 15,630 shares of the company’s stock valued at $161,000 after buying an additional 2,043 shares during the period. SG Americas Securities LLC raised its stake in shares of Paragon 28 by 40.1% in the fourth quarter. SG Americas Securities LLC now owns 26,754 shares of the company’s stock valued at $276,000 after acquiring an additional 7,653 shares in the last quarter. Rhumbline Advisers boosted its holdings in Paragon 28 by 1.7% in the fourth quarter. Rhumbline Advisers now owns 62,861 shares of the company’s stock valued at $649,000 after purchasing an additional 1,024 shares during the period. Palumbo Wealth Management LLC purchased a new position in Paragon 28 in the fourth quarter valued at $171,000. Finally, MN Wealth Advisors LLC grew its stake in Paragon 28 by 1.4% during the 4th quarter. MN Wealth Advisors LLC now owns 84,535 shares of the company’s stock worth $873,000 after purchasing an additional 1,200 shares in the last quarter. 63.57% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 164,664 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $13.01, for a total value of $2,142,278.64. Following the transaction, the insider now directly owns 8,854,883 shares of the company’s stock, valued at $115,202,027.83. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 1,828,706 shares of company stock worth $23,810,399. 15.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Paragon 28 Trading Up 0.1%

NYSE:FNA opened at $13.11 on Monday. Paragon 28, Inc. has a 1 year low of $4.65 and a 1 year high of $13.13. The stock has a market cap of $1.10 billion, a P/E ratio of -17.71 and a beta of 1.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. The stock has a 50-day simple moving average of $13.07 and a 200-day simple moving average of $11.93.

Paragon 28 (NYSE:FNA) last announced its quarterly 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 during the quarter, compared to analyst estimates of $70.81 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. As a group, analysts anticipate that Paragon 28, Inc. will post -0.64 earnings per share for the current fiscal 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.