Paragon 28 (NYSE:FNA) Shares Gap Down to $9.03

Paragon 28, Inc. (NYSE:FNA) gapped down prior to trading on Wednesday . The stock had previously closed at $9.03, but opened at $8.33. Paragon 28 shares last traded at $7.76, with a volume of 64,807 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FNA. Needham & Company LLC reduced their price objective on Paragon 28 from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Piper Sandler reiterated an “overweight” rating and set a $15.00 target price (down from $18.00) on shares of Paragon 28 in a report on Thursday, May 9th. Stephens reiterated an “overweight” rating and set a $18.00 target price on shares of Paragon 28 in a report on Friday, April 5th. Finally, JMP Securities dropped their target price on Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating on the stock in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $16.75.

Paragon 28 Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.78 and a current ratio of 3.57. The firm has a fifty day simple moving average of $7.22 and a 200-day simple moving average of $9.64. The company has a market capitalization of $651.16 million, a PE ratio of -12.15 and a beta of 0.99.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.07). Paragon 28 had a negative return on equity of 27.72% and a negative net margin of 24.45%. The business had revenue of $61.08 million for the quarter. Equities research analysts anticipate that Paragon 28, Inc. will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Paragon 28

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Paragon 28 by 12.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,001,692 shares of the company’s stock valued at $25,121,000 after acquiring an additional 217,246 shares during the last quarter. First Light Asset Management LLC increased its holdings in shares of Paragon 28 by 39.4% in the 4th quarter. First Light Asset Management LLC now owns 3,817,794 shares of the company’s stock valued at $47,455,000 after acquiring an additional 1,079,916 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Paragon 28 by 29.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock valued at $14,818,000 after acquiring an additional 273,077 shares during the last quarter. MVM Partners LLC bought a new stake in shares of Paragon 28 in the 4th quarter valued at approximately $134,879,000. Finally, Wellington Management Group LLP bought a new stake in shares of Paragon 28 in the 4th quarter valued at approximately $5,824,000. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

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.