JPMorgan Chase & Co. Grows Holdings in Paragon 28, Inc. (NYSE:FNA)

JPMorgan Chase & Co. increased its position in Paragon 28, Inc. (NYSE:FNAFree Report) by 2,141.7% during the 3rd quarter, Holdings Channel reports. The firm owned 784,878 shares of the company’s stock after acquiring an additional 749,865 shares during the quarter. JPMorgan Chase & Co.’s holdings in Paragon 28 were worth $5,243,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Paragon 28 by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 159,822 shares of the company’s stock valued at $1,093,000 after buying an additional 24,440 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Paragon 28 by 6.0% during the 2nd quarter. Rhumbline Advisers now owns 65,727 shares of the company’s stock valued at $450,000 after buying an additional 3,720 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Paragon 28 in the 2nd quarter worth approximately $419,000. Hsbc Holdings PLC purchased a new position in Paragon 28 in the second quarter valued at $104,000. Finally, XTX Topco Ltd raised its holdings in Paragon 28 by 36.4% in the 2nd quarter. XTX Topco Ltd now owns 22,335 shares of the company’s stock worth $153,000 after purchasing an additional 5,963 shares during the period. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on FNA. Canaccord Genuity Group reduced their price objective on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Paragon 28 in a report on Monday. Finally, Stephens upgraded Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Paragon 28 currently has an average rating of “Buy” and an average target price of $15.60.

Check Out Our Latest Research Report on Paragon 28

Insiders Place Their Bets

In related news, major shareholder Mvm Partners, Llc sold 147,581 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $10.28, for a total value of $1,517,132.68. Following the completion of the sale, the insider now directly owns 10,738,564 shares of the company’s stock, valued at $110,392,437.92. This represents a 1.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 252,914 shares of company stock valued at $2,585,514. 15.32% of the stock is owned by corporate insiders.

Paragon 28 Stock Performance

Shares of FNA stock opened at $10.60 on Friday. Paragon 28, Inc. has a 52 week low of $4.65 and a 52 week high of $14.79. The stock has a market capitalization of $887.18 million, a PE ratio of -14.32 and a beta of 1.50. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. The firm has a 50 day moving average of $10.11 and a two-hundred day moving average of $8.08.

Paragon 28 (NYSE:FNAGet Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The business had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $60.58 million. During the same period in the previous year, the company earned ($0.10) EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, research analysts predict that Paragon 28, Inc. will post -0.66 EPS for the current fiscal year.

About Paragon 28

(Free Report)

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.

Read More

Want to see what other hedge funds are holding FNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paragon 28, Inc. (NYSE:FNAFree Report).

Institutional Ownership by Quarter for Paragon 28 (NYSE:FNA)

Receive News & Ratings for Paragon 28 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paragon 28 and related companies with MarketBeat.com's FREE daily email newsletter.