JMP Securities Lowers Paragon 28 (NYSE:FNA) Price Target to $20.00

Paragon 28 (NYSE:FNA) had its price target cut by JMP Securities from $23.00 to $20.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target suggests a potential upside of 142.42% from the stock’s previous close.

FNA has been the topic of several other reports. Piper Sandler reissued an “overweight” rating and issued a $15.00 price target (down from $18.00) on shares of Paragon 28 in a research note on Thursday. Stephens reiterated an “overweight” rating and set a $18.00 price target on shares of Paragon 28 in a report on Friday, April 5th. Finally, Needham & Company LLC reduced their price objective on Paragon 28 from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $16.75.

Paragon 28 Trading Down 13.2 %

Shares of Paragon 28 stock traded down $1.25 during midday trading on Thursday, reaching $8.25. The company had a trading volume of 1,939,520 shares, compared to its average volume of 536,532. The stock has a fifty day moving average price of $10.31 and a 200 day moving average price of $11.12. 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 market cap of $684.01 million, a PE ratio of -14.12 and a beta of 1.12. Paragon 28 has a fifty-two week low of $7.61 and a fifty-two week high of $19.00.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.09). Paragon 28 had a negative net margin of 22.11% and a negative return on equity of 22.51%. The business had revenue of $60.56 million during the quarter, compared to analyst estimates of $60.73 million. On average, equities analysts anticipate that Paragon 28 will post -0.43 earnings per share for the current year.

Insider Activity

In related news, insider Albert Dacosta acquired 28,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $9.12 per share, with a total value of $255,360.00. Following the acquisition, the insider now owns 5,339,110 shares of the company’s stock, valued at approximately $48,692,683.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.32% of the company’s stock.

Institutional Trading of Paragon 28

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. bought a new position in Paragon 28 in the 4th quarter worth about $25,000. HighMark Wealth Management LLC bought a new position in Paragon 28 in the 4th quarter worth about $99,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Paragon 28 by 91.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,984 shares of the company’s stock worth $138,000 after acquiring an additional 5,234 shares during the last quarter. Panagora Asset Management Inc. bought a new position in shares of Paragon 28 during the 3rd quarter valued at about $142,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Paragon 28 during the 4th quarter valued at about $249,000. Hedge funds and other institutional investors own 63.57% of the company’s stock.

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.