Paragon 28 (NYSE:FNA) Sees Strong Trading Volume – Should You Buy?

Shares of Paragon 28, Inc. (NYSE:FNA) saw an uptick in trading volume on Wednesday . 1,843,036 shares changed hands during mid-day trading, an increase of 1% from the previous session’s volume of 1,828,848 shares.The stock last traded at $13.07 and had previously closed at $12.99.

Analyst Upgrades and Downgrades

FNA has been the topic of a number of recent research reports. Canaccord Genuity Group set a $13.00 price target on shares of Paragon 28 in a report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “hold” rating and issued a $13.00 price target on shares of Paragon 28 in a research report on Wednesday, January 29th. Stephens reissued an “equal weight” rating and set a $13.00 price objective (down previously from $14.00) on shares of Paragon 28 in a report on Thursday, January 30th. Finally, William Blair lowered Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.20.

Paragon 28 Price Performance

The company has a market capitalization of $1.10 billion, a P/E ratio of -17.69 and a beta of 1.47. The stock’s fifty day simple moving average is $13.03 and its 200-day simple moving average is $10.44. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60.

Paragon 28 (NYSE:FNA) last announced its earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $71.75 million for the quarter, compared to the consensus estimate of $70.81 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. On average, equities analysts forecast that Paragon 28, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 1,044,295 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $13.04, for a total value of $13,617,606.80. Following the completion of the sale, the insider now directly owns 7,810,588 shares of the company’s stock, valued at $101,850,067.52. This represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 1,875,984 shares of company stock valued at $24,359,971. 15.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FNA. First Light Asset Management LLC increased its stake in Paragon 28 by 4.2% during the fourth quarter. First Light Asset Management LLC now owns 10,580,467 shares of the company’s stock valued at $109,296,000 after acquiring an additional 425,824 shares during the period. Vanguard Group Inc. increased its position in shares of Paragon 28 by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 2,809,109 shares of the company’s stock valued at $29,018,000 after purchasing an additional 425,983 shares during the period. State Street Corp raised its stake in shares of Paragon 28 by 2.6% in the third quarter. State Street Corp now owns 1,563,331 shares of the company’s stock valued at $10,443,000 after purchasing an additional 39,075 shares in the last quarter. Geode Capital Management LLC boosted its stake in Paragon 28 by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 978,832 shares of the company’s stock worth $10,113,000 after buying an additional 11,313 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Paragon 28 by 3.0% during the fourth quarter. JPMorgan Chase & Co. now owns 808,611 shares of the company’s stock worth $8,353,000 after buying an additional 23,733 shares in the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

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.