Paragon 28 (NYSE:FNA) Rating Reiterated by Piper Sandler

Paragon 28 (NYSE:FNA)‘s stock had its “overweight” rating reaffirmed by analysts at Piper Sandler in a research report issued on Wednesday, Benzinga reports. They presently have a $18.00 price objective on the stock. Piper Sandler’s price objective indicates a potential upside of 45.75% from the company’s current price.

Separately, Needham & Company LLC upped their price objective on shares of Paragon 28 from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, March 1st.

Paragon 28 Stock Up 3.7 %

FNA stock opened at $12.35 on Wednesday. The company has a fifty day moving average price of $12.03 and a 200 day moving average price of $11.45. Paragon 28 has a 12 month low of $7.95 and a 12 month high of $19.72. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -21.29 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.21 and a quick ratio of 2.30.

Paragon 28 (NYSE:FNA) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.09). Paragon 28 had a negative net margin of 22.11% and a negative return on equity of 22.51%. Sell-side analysts expect that Paragon 28 will post -0.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Albert Dacosta purchased 28,000 shares of the stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $9.12 per share, with a total value of $255,360.00. Following the purchase, the insider now directly owns 5,339,110 shares in the company, valued at approximately $48,692,683.20. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Paragon 28

A number of institutional investors and hedge funds have recently made changes to their positions in FNA. PNC Financial Services Group Inc. acquired a new stake in Paragon 28 in the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC grew its stake in Paragon 28 by 203.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,450 shares of the company’s stock valued at $61,000 after acquiring an additional 2,312 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Paragon 28 by 22.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,252 shares of the company’s stock valued at $71,000 after acquiring an additional 793 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Paragon 28 in the 2nd quarter valued at about $92,000. Finally, HighMark Wealth Management LLC acquired a new stake in Paragon 28 in the 4th quarter valued at about $99,000. 63.57% of the stock is owned by institutional investors and hedge funds.

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.