Paragon 28 (NYSE:FNA) Rating Reiterated by Needham & Company LLC

Paragon 28 (NYSE:FNA)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They currently have a $17.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 42.62% from the stock’s current price.

Separately, Piper Sandler reissued an “overweight” rating and issued a $18.00 price objective on shares of Paragon 28 in a research report on Wednesday.

Paragon 28 Stock Performance

NYSE:FNA opened at $11.92 on Thursday. The company has a current ratio of 4.21, a quick ratio of 2.30 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $987.45 million, a PE ratio of -20.55 and a beta of 1.02. The firm’s fifty day simple moving average is $12.00 and its 200 day simple moving average is $11.44. Paragon 28 has a 1 year low of $7.95 and a 1 year high of $19.72.

Paragon 28 (NYSE:FNA) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.19) earnings per share (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%. On average, sell-side analysts anticipate that Paragon 28 will post -0.42 EPS for the current year.

Insider Buying and Selling

In other Paragon 28 news, insider Albert Dacosta purchased 28,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 5,339,110 shares in the company, valued at $48,692,683.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Paragon 28

Hedge funds have recently bought and sold shares of the company. Braidwell LP boosted its stake in shares of Paragon 28 by 94.4% in the 2nd quarter. Braidwell LP now owns 2,136,122 shares of the company’s stock valued at $37,895,000 after purchasing an additional 1,037,400 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Paragon 28 by 27.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 307,759 shares of the company’s stock worth $3,862,000 after buying an additional 66,473 shares during the period. Roubaix Capital LLC acquired a new stake in Paragon 28 during the 3rd quarter worth approximately $2,603,000. Panagora Asset Management Inc. acquired a new stake in Paragon 28 during the 3rd quarter worth approximately $142,000. Finally, SG Americas Securities LLC acquired a new stake in Paragon 28 during the 3rd quarter worth approximately $444,000. 63.57% of the stock is owned by institutional investors.

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.