Paragon 28 (NYSE:FNA) Stock Price Up 3.8% – Here’s What Happened

Paragon 28, Inc. (NYSE:FNA) was up 3.8% on Friday . The company traded as high as $10.11 and last traded at $10.07. Approximately 112,976 shares traded hands during trading, a decline of 81% from the average daily volume of 606,746 shares. The stock had previously closed at $9.70.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FNA. Needham & Company LLC increased their price target on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $12.00 target price (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Finally, Canaccord Genuity Group reduced their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Stock Performance

The company has a 50-day moving average of $6.37 and a 200-day moving average of $7.23. The firm has a market capitalization of $848.08 million, a P/E ratio of -13.55 and a beta of 1.01. The company has a current ratio of 3.50, a quick ratio of 1.70 and a debt-to-equity ratio of 0.79.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $62.30 million for the quarter, compared to analyst estimates of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) earnings per share. On average, equities analysts anticipate that Paragon 28, Inc. will post -0.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paragon 28

A number of hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in Paragon 28 by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock worth $156,000 after acquiring an additional 1,766 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Paragon 28 by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company’s stock worth $178,000 after acquiring an additional 2,142 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Paragon 28 by 6.0% in the 2nd quarter. Rhumbline Advisers now owns 65,727 shares of the company’s stock worth $450,000 after acquiring an additional 3,720 shares in the last quarter. Commerce Bank raised its holdings in shares of Paragon 28 by 28.5% in the third quarter. Commerce Bank now owns 18,350 shares of the company’s stock valued at $123,000 after purchasing an additional 4,075 shares during the last quarter. Finally, Algert Global LLC lifted its position in shares of Paragon 28 by 12.0% during the second quarter. Algert Global LLC now owns 38,793 shares of the company’s stock valued at $265,000 after purchasing an additional 4,157 shares in the last quarter. Institutional investors own 63.57% 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.