Paragon 28 (NYSE:FNA) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Paragon 28 (NYSE:FNA) in a report published on Thursday morning, Benzinga reports. They currently have a $17.00 price objective on the stock.

Separately, Piper Sandler restated an overweight rating and set a $18.00 price objective on shares of Paragon 28 in a research report on Wednesday.

Paragon 28 Price Performance

Paragon 28 stock opened at $12.35 on Thursday. Paragon 28 has a 1 year low of $7.95 and a 1 year high of $19.72. The company’s 50 day simple moving average is $12.03 and its 200-day simple moving average is $11.45. The company has a market capitalization 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 quick ratio of 2.30 and a current ratio of 4.21.

Paragon 28 (NYSE:FNA) last posted 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 return on equity of 22.51% and a negative net margin of 22.11%. As a group, equities research analysts expect that Paragon 28 will post -0.42 earnings per share for the current year.

Insider Activity

In other Paragon 28 news, insider Albert Dacosta acquired 28,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average cost of $9.12 per share, with a total value of $255,360.00. Following the purchase, the insider now owns 5,339,110 shares in the company, valued at $48,692,683.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On Paragon 28

A number of large investors have recently added to or reduced their stakes in FNA. Legal & General Group Plc boosted its stake in shares of Paragon 28 by 4.8% during the 4th quarter. Legal & General Group Plc now owns 12,669 shares of the company’s stock worth $242,000 after purchasing an additional 576 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Paragon 28 by 22.9% during the 1st quarter. JPMorgan Chase & Co. now owns 4,252 shares of the company’s stock worth $71,000 after purchasing an additional 793 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Paragon 28 by 6.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 18,508 shares of the company’s stock worth $354,000 after purchasing an additional 1,054 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Paragon 28 by 1.8% during the 1st quarter. Northern Trust Corp now owns 77,061 shares of the company’s stock worth $1,290,000 after purchasing an additional 1,343 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in shares of Paragon 28 by 0.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 338,695 shares of the company’s stock worth $4,251,000 after purchasing an additional 1,600 shares during the last quarter. 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.