Paragon 28 (NYSE:FNA) Shares Down 4.4%

Paragon 28, Inc. (NYSE:FNA)’s share price dropped 4.4% during mid-day trading on Monday . The company traded as low as $9.74 and last traded at $9.80. Approximately 106,237 shares traded hands during trading, a decline of 80% from the average daily volume of 540,754 shares. The stock had previously closed at $10.25.

Analyst Upgrades and Downgrades

FNA has been the subject of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $18.00 target price on shares of Paragon 28 in a research report on Friday, April 5th. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price objective on shares of Paragon 28 in a research report on Thursday, April 4th. Finally, Piper Sandler reissued an “overweight” rating and issued a $18.00 price objective on shares of Paragon 28 in a research report on Wednesday, March 27th.

Paragon 28 Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 4.21 and a quick ratio of 2.30. The firm has a 50-day moving average price of $11.56 and a two-hundred day moving average price of $11.21.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.09). The business had revenue of $60.56 million during the quarter, compared to the consensus estimate of $60.73 million. Paragon 28 had a negative net margin of 22.11% and a negative return on equity of 22.51%. As a group, sell-side analysts predict that Paragon 28, Inc. will post -0.43 EPS for the current year.

Insider Activity at Paragon 28

In other news, insider Albert Dacosta bought 28,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $9.12 per share, for a total transaction of $255,360.00. Following the completion of the purchase, the insider now owns 5,339,110 shares of the company’s stock, valued at approximately $48,692,683.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FNA. PNC Financial Services Group Inc. bought a new position in shares of Paragon 28 during the fourth quarter valued at $25,000. Tower Research Capital LLC TRC raised its holdings in shares of Paragon 28 by 203.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,450 shares of the company’s stock valued at $61,000 after buying an additional 2,312 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Paragon 28 by 22.9% in the first quarter. JPMorgan Chase & Co. now owns 4,252 shares of the company’s stock valued at $71,000 after buying an additional 793 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Paragon 28 in the second quarter valued at about $92,000. Finally, HighMark Wealth Management LLC bought a new position in shares of Paragon 28 in the fourth quarter valued at about $99,000. 63.57% of the stock is owned by institutional investors.

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.