Paragon 28 (NYSE:FNA) Sees Large Volume Increase – Time to Buy?

Shares of Paragon 28, Inc. (NYSE:FNA) saw an uptick in trading volume on Thursday . 2,066,053 shares traded hands during trading, an increase of 143% from the previous session’s volume of 851,120 shares.The stock last traded at $13.05 and had previously closed at $13.06.

Wall Street Analyst Weigh In

FNA has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating and issued a $13.00 target price on shares of Paragon 28 in a research note on Wednesday, January 29th. Stephens reiterated an “equal weight” rating and issued a $13.00 target price (down previously from $14.00) on shares of Paragon 28 in a research note on Thursday, January 30th. Canaccord Genuity Group set a $13.00 target price on shares of Paragon 28 in a research note on Wednesday, January 29th. Finally, William Blair lowered shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.20.

Paragon 28 Stock Down 0.3 %

The stock’s fifty day moving average is $12.23 and its two-hundred day moving average is $9.44. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $1.09 billion, a PE ratio of -17.60 and a beta of 1.54.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The company had revenue of $71.75 million during the quarter, compared to analysts’ expectations of $70.81 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. As a group, analysts predict that Paragon 28, Inc. will post -0.64 EPS for the current year.

Insider Buying and Selling at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 619,747 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $12.99, for a total transaction of $8,050,513.53. Following the sale, the insider now directly owns 9,609,771 shares of the company’s stock, valued at $124,830,925.29. This represents a 6.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 831,689 shares of company stock valued at $10,742,364 over the last three months. 15.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paragon 28

Several institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Paragon 28 by 3.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,819 shares of the company’s stock worth $277,000 after buying an additional 820 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Paragon 28 by 33.6% in the fourth quarter. AlphaQuest LLC now owns 3,680 shares of the company’s stock worth $38,000 after buying an additional 925 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Paragon 28 by 1.7% in the fourth quarter. Rhumbline Advisers now owns 62,861 shares of the company’s stock worth $649,000 after buying an additional 1,024 shares in the last quarter. State of Wyoming lifted its holdings in shares of Paragon 28 by 37.4% in the fourth quarter. State of Wyoming now owns 4,359 shares of the company’s stock worth $45,000 after buying an additional 1,187 shares in the last quarter. Finally, MN Wealth Advisors LLC lifted its holdings in shares of Paragon 28 by 1.4% in the fourth quarter. MN Wealth Advisors LLC now owns 84,535 shares of the company’s stock worth $873,000 after buying an additional 1,200 shares in the last quarter. 63.57% of the stock is owned by hedge funds and other institutional investors.

About Paragon 28

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.