Paragon 28 (NYSE:FNA) Stock Price Down 4.1%

Paragon 28, Inc. (NYSE:FNAGet Rating)’s share price dropped 4.1% on Tuesday . The company traded as low as $15.83 and last traded at $15.97. Approximately 13,283 shares changed hands during trading, a decline of 96% from the average daily volume of 371,530 shares. The stock had previously closed at $16.66.

FNA has been the topic of a number of analyst reports. Canaccord Genuity Group decreased their target price on shares of Paragon 28 from $23.00 to $20.00 in a report on Tuesday, May 10th. JMP Securities reaffirmed a “buy” rating and set a $30.00 target price on shares of Paragon 28 in a report on Wednesday, June 1st. Canaccord Genuity Group decreased their target price on shares of Paragon 28 from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, March 9th. Finally, Bank of America decreased their target price on shares of Paragon 28 from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, March 9th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $25.86.

The stock’s fifty day moving average price is $16.98 and its 200 day moving average price is $16.47. The company has a quick ratio of 3.26, a current ratio of 4.39 and a debt-to-equity ratio of 0.23.

Paragon 28 (NYSE:FNAGet Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). On average, equities research analysts expect that Paragon 28, Inc. will post -0.23 earnings per share for the current fiscal year.

In other Paragon 28 news, CTO Frank S. Bono sold 25,000 shares of the stock in a transaction on Friday, May 27th. The shares were sold at an average price of $17.99, for a total transaction of $449,750.00. Following the completion of the sale, the chief technology officer now owns 1,641,104 shares of the company’s stock, valued at approximately $29,523,460.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Frank S. Bono sold 20,000 shares of the stock in a transaction on Monday, June 6th. The shares were sold at an average price of $18.96, for a total transaction of $379,200.00. Following the sale, the chief technology officer now directly owns 1,647,426 shares of the company’s stock, valued at approximately $31,235,196.96. The disclosure for this sale can be found here. 19.50% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FNA. Wasatch Advisors Inc. purchased a new stake in Paragon 28 during the 4th quarter valued at $42,541,000. Millennium Management LLC purchased a new stake in shares of Paragon 28 in the 4th quarter worth about $13,058,000. TimesSquare Capital Management LLC purchased a new stake in shares of Paragon 28 in the 4th quarter worth about $12,611,000. BlackRock Inc. purchased a new stake in shares of Paragon 28 in the 4th quarter worth about $7,994,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Paragon 28 in the 4th quarter worth about $7,076,000. 12.31% of the stock is owned by institutional investors and hedge funds.

About Paragon 28 (NYSE:FNA)

Paragon 28, Inc designs, 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.

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