Needham & Company LLC Issues Positive Forecast for Paragon 28 (NYSE:FNA) Stock Price

Paragon 28 (NYSE:FNA) had its price target raised by Needham & Company LLC from $11.00 to $13.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 price objective (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $15.60.

Paragon 28 Stock Performance

NYSE FNA opened at $10.63 on Wednesday. The business has a 50 day simple moving average of $6.28 and a 200 day simple moving average of $7.19. The company has a quick ratio of 1.70, a current ratio of 3.57 and a debt-to-equity ratio of 0.75. Paragon 28 has a one year low of $4.65 and a one year high of $14.79.

Paragon 28 (NYSE:FNA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. Paragon 28 had a negative return on equity of 36.84% and a negative net margin of 25.31%. The company had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. During the same period last year, the business posted ($0.10) EPS. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Paragon 28 will post -0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in Paragon 28 by 46,660.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after purchasing an additional 4,666 shares during the period. Levin Capital Strategies L.P. bought a new stake in Paragon 28 during the 2nd quarter valued at $68,000. Intech Investment Management LLC purchased a new stake in Paragon 28 during the 3rd quarter valued at $70,000. Ballentine Partners LLC bought a new stake in shares of Paragon 28 in the third quarter worth about $91,000. Finally, Creative Planning purchased a new stake in shares of Paragon 28 in the 3rd quarter worth about $91,000. Hedge funds and other 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.