Short Interest in Paragon 28, Inc. (NYSE:FNA) Drops By 14.4%

Paragon 28, Inc. (NYSE:FNAGet Rating) was the recipient of a large drop in short interest in December. As of December 30th, there was short interest totalling 1,010,000 shares, a drop of 14.4% from the December 15th total of 1,180,000 shares. Based on an average daily trading volume, of 197,200 shares, the days-to-cover ratio is presently 5.1 days. Currently, 3.9% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, insider Matthew Jarboe sold 35,110 shares of the company’s stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $20.93, for a total value of $734,852.30. Following the completion of the transaction, the insider now directly owns 271,764 shares of the company’s stock, valued at $5,688,020.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Mvm Partners Llp sold 9,156 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $19.18, for a total transaction of $175,612.08. Following the completion of the sale, the insider now owns 13,867,574 shares in the company, valued at $265,980,069.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Jarboe sold 35,110 shares of Paragon 28 stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $20.93, for a total transaction of $734,852.30. Following the completion of the sale, the insider now directly owns 271,764 shares in the company, valued at approximately $5,688,020.52. The disclosure for this sale can be found here. Insiders have sold a total of 318,812 shares of company stock valued at $6,310,390 in the last 90 days. 19.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Capital Impact Advisors LLC purchased a new stake in shares of Paragon 28 in the second quarter worth about $237,000. Valeo Financial Advisors LLC boosted its holdings in Paragon 28 by 53.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 495,005 shares of the company’s stock valued at $7,856,000 after purchasing an additional 172,125 shares during the period. Russell Investments Group Ltd. bought a new position in Paragon 28 in the 2nd quarter valued at $2,440,000. Calamos Advisors LLC grew its position in shares of Paragon 28 by 43.0% during the 3rd quarter. Calamos Advisors LLC now owns 158,947 shares of the company’s stock valued at $2,832,000 after purchasing an additional 47,820 shares in the last quarter. Finally, Integrity Advisory LLC bought a new position in shares of Paragon 28 in the third quarter worth $1,485,000. Institutional investors own 21.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Piper Sandler lifted their price target on shares of Paragon 28 to $32.00 in a report on Wednesday, November 16th. B. Riley reissued a “buy” rating and issued a $32.00 target price on shares of Paragon 28 in a research report on Wednesday, December 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $27.29.

Paragon 28 Stock Performance

NYSE FNA opened at $19.06 on Friday. The company’s 50 day moving average is $19.77 and its 200-day moving average is $18.78. The firm has a market cap of $1.47 billion, a P/E ratio of -42.36 and a beta of 0.81. Paragon 28 has a 12-month low of $12.35 and a 12-month high of $21.49. The company has a quick ratio of 2.28, a current ratio of 3.60 and a debt-to-equity ratio of 0.25.

Paragon 28 (NYSE:FNAGet Rating) last posted its earnings results on Thursday, November 10th. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). Paragon 28 had a negative return on equity of 19.17% and a negative net margin of 20.12%. The firm had revenue of $46.01 million for the quarter, compared to the consensus estimate of $42.48 million. Sell-side analysts predict that Paragon 28 will post -0.46 earnings per share for the current year.

About Paragon 28

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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.

Further Reading

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