Paragon 28, Inc. (NYSE:FNA) Short Interest Down 20.0% in February

Paragon 28, Inc. (NYSE:FNA) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,440,000 shares, a drop of 20.0% from the February 13th total of 1,800,000 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average trading volume of 1,450,000 shares, the days-to-cover ratio is currently 1.0 days.

Insiders Place Their Bets

In related news, major shareholder Mvm Partners, Llc sold 20,136 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $11.63, for a total transaction of $234,181.68. Following the completion of the transaction, the insider now owns 10,366,009 shares in the company, valued at $120,556,684.67. This trade represents a 0.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 1,875,984 shares of company stock worth $24,359,971. 15.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paragon 28

Hedge funds and other institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC acquired a new stake in shares of Paragon 28 in the 4th quarter valued at $36,000. AlphaQuest LLC increased its stake in shares of 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 period. State of Wyoming increased its stake in shares of Paragon 28 by 37.4% in the 4th quarter. State of Wyoming now owns 4,359 shares of the company’s stock valued at $45,000 after buying an additional 1,187 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Paragon 28 in the 4th quarter valued at $94,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Paragon 28 in the 3rd quarter valued at $70,000. 63.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Needham & Company LLC restated a “hold” rating and set a $13.00 target price on shares of Paragon 28 in a research report on Wednesday, January 29th. Canaccord Genuity Group set a $13.00 target price on Paragon 28 in a research report on Wednesday, January 29th. William Blair downgraded Paragon 28 from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Finally, Stephens restated an “equal weight” rating and set a $13.00 target price (down previously from $14.00) on shares of Paragon 28 in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.20.

Paragon 28 Price Performance

FNA traded up $0.02 during trading on Wednesday, hitting $13.05. The company’s stock had a trading volume of 801,406 shares, compared to its average volume of 869,092. The firm’s 50 day moving average price is $12.41 and its two-hundred day moving average price is $9.59. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. Paragon 28 has a 12 month low of $4.65 and a 12 month high of $13.13. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -17.63 and a beta of 1.54.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) 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 business had revenue of $71.75 million during the quarter, compared to the consensus estimate of $70.81 million. Sell-side analysts forecast that Paragon 28 will post -0.64 earnings per share 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.