Paragon 28 (NYSE:FNA) PT Lowered to $14.00 at Needham & Company LLC

Paragon 28 (NYSE:FNA) had its price objective reduced by research analysts at Needham & Company LLC from $17.00 to $14.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 47.37% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Stephens restated an “overweight” rating and issued a $18.00 price target on shares of Paragon 28 in a research report on Friday, April 5th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price target on shares of Paragon 28 in a research report on Wednesday, March 27th.

Paragon 28 Stock Performance

Shares of FNA stock opened at $9.50 on Thursday. The business’s 50-day moving average price is $10.31 and its 200-day moving average price is $11.12. Paragon 28 has a 12 month low of $7.95 and a 12 month high of $19.00. The company has a current ratio of 4.21, a quick ratio of 2.30 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $787.65 million, a price-to-earnings ratio of -16.38 and a beta of 1.12.

Paragon 28 (NYSE:FNA) last announced 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. Equities research analysts forecast that Paragon 28 will post -0.43 EPS for the current year.

Insider Transactions at Paragon 28

In other news, insider Albert Dacosta acquired 28,000 shares of Paragon 28 stock in a transaction on Friday, March 15th. The stock was purchased at an average price of $9.12 per share, with a total value 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 document filed with the SEC, which is available through this hyperlink. Insiders own 15.32% of the company’s stock.

Hedge Funds Weigh In On Paragon 28

Several large investors have recently added to or reduced their stakes in the business. MVM Partners LLC bought a new stake in Paragon 28 during the fourth quarter worth $134,879,000. Braidwell LP lifted its position in shares of Paragon 28 by 57.4% during the third quarter. Braidwell LP now owns 3,361,824 shares of the company’s stock valued at $42,191,000 after purchasing an additional 1,225,702 shares in the last quarter. First Light Asset Management LLC boosted its holdings in Paragon 28 by 39.4% during the fourth quarter. First Light Asset Management LLC now owns 3,817,794 shares of the company’s stock worth $47,455,000 after purchasing an additional 1,079,916 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Paragon 28 in the 4th quarter valued at about $5,824,000. Finally, GW&K Investment Management LLC purchased a new position in shares of Paragon 28 in the 4th quarter worth approximately $3,447,000. 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.