Paragon 28 (NYSE:FNA) Shares Gap Up – Should You Buy?

Paragon 28, Inc. (NYSE:FNA)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $12.00, but opened at $13.11. Paragon 28 shares last traded at $13.03, with a volume of 6,266,980 shares traded.

Analysts Set New Price Targets

FNA has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating and set a $13.00 target price on shares of Paragon 28 in a report on Wednesday. Canaccord Genuity Group reiterated a “hold” rating on shares of Paragon 28 in a report on Wednesday. Stephens reissued an “equal weight” rating and set a $13.00 target price (down from $14.00) on shares of Paragon 28 in a research note on Thursday. Finally, William Blair downgraded Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.60.

Paragon 28 Stock Up 0.3 %

The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. The company’s fifty day moving average price is $10.53 and its 200-day moving average price is $8.38.

Paragon 28 (NYSE:FNA) last released its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The firm had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $60.58 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The company’s quarterly revenue was up 18.0% on a year-over-year basis. Sell-side analysts predict that Paragon 28, Inc. will post -0.64 EPS for the current year.

Insider Activity at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 72,133 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $10.16, for a total transaction of $732,871.28. Following the completion of the sale, the insider now owns 10,559,065 shares of the company’s stock, valued at $107,280,100.40. This represents a 0.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 300,192 shares of company stock worth $3,135,086 over the last quarter. Company insiders own 15.32% of the company’s stock.

Institutional Trading of Paragon 28

Several large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its holdings in shares of Paragon 28 by 1.7% in the fourth quarter. Rhumbline Advisers now owns 62,861 shares of the company’s stock worth $649,000 after purchasing an additional 1,024 shares during the last quarter. MN Wealth Advisors LLC boosted its position in Paragon 28 by 1.4% in the 4th quarter. MN Wealth Advisors LLC now owns 84,535 shares of the company’s stock valued at $873,000 after buying an additional 1,200 shares during the period. Ballentine Partners LLC increased its position in shares of Paragon 28 by 15.0% during the fourth quarter. Ballentine Partners LLC now owns 15,630 shares of the company’s stock worth $161,000 after acquiring an additional 2,043 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Paragon 28 by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company’s stock valued at $178,000 after acquiring an additional 2,142 shares in the last quarter. Finally, Commerce Bank boosted its holdings in shares of Paragon 28 by 28.5% in the third quarter. Commerce Bank now owns 18,350 shares of the company’s stock valued at $123,000 after purchasing an additional 4,075 shares during the period. 63.57% of the stock is currently 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.