Paragon 28 (NYSE:FNA) Sees Strong Trading Volume – Time to Buy?

Paragon 28, Inc. (NYSE:FNA) saw unusually-high trading volume on Thursday . Approximately 2,066,053 shares were traded 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

A number of brokerages have commented on FNA. William Blair cut Paragon 28 from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group set a $13.00 price target on shares of Paragon 28 in a research report on Wednesday, January 29th. Stephens restated an “equal weight” rating and issued a $13.00 price objective (down previously from $14.00) on shares of Paragon 28 in a research report on Thursday, January 30th. Finally, Needham & Company LLC reissued a “hold” rating and issued a $13.00 target price on shares of Paragon 28 in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Paragon 28 currently has a consensus rating of “Hold” and an average price target of $14.20.

Paragon 28 Price Performance

The company has a market cap of $1.09 billion, a PE ratio of -17.60 and a beta of 1.54. The firm’s 50-day moving average is $12.32 and its 200-day moving average is $9.50. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79.

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

Insiders Place Their Bets

In related news, major shareholder Mvm Partners, Llc sold 1,044,295 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $13.04, for a total value of $13,617,606.80. Following the completion of the transaction, the insider now directly owns 7,810,588 shares in the company, valued at $101,850,067.52. The trade was a 11.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 1,875,984 shares of company stock valued at $24,359,971. 15.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. AlphaCore Capital LLC purchased a new position in Paragon 28 in the 4th quarter worth about $175,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Paragon 28 by 8.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 81,289 shares of the company’s stock valued at $840,000 after purchasing an additional 6,269 shares during the last quarter. Squarepoint Ops LLC lifted its position in Paragon 28 by 16.8% during the fourth quarter. Squarepoint Ops LLC now owns 29,301 shares of the company’s stock valued at $303,000 after purchasing an additional 4,225 shares during the period. State of Wyoming boosted its holdings in 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 purchasing an additional 1,187 shares during the last quarter. Finally, ProShare Advisors LLC bought a new stake in Paragon 28 in the 4th quarter worth approximately $137,000. Hedge funds and other institutional investors own 63.57% of the company’s stock.

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.