Paragon 28 (NYSE:FNA) Stock Price Up 4.9%

Paragon 28, Inc. (NYSE:FNA) shot up 4.9% on Tuesday . The company traded as high as $9.84 and last traded at $9.84. 56,392 shares were traded during trading, a decline of 88% from the average session volume of 478,968 shares. The stock had previously closed at $9.38.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FNA. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Paragon 28 in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 target price on shares of Paragon 28 in a research report on Thursday.

Paragon 28 Stock Up 3.7 %

The firm’s 50 day simple moving average is $12.03 and its two-hundred day simple moving average is $11.45. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -21.29 and a beta of 1.02. The company has a current ratio of 4.21, a quick ratio of 2.30 and a debt-to-equity ratio of 0.62.

Paragon 28 (NYSE:FNA) last issued 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, equities analysts forecast that Paragon 28, Inc. will post -0.42 EPS for the current year.

Insider Buying and Selling

In other news, insider Albert Dacosta purchased 28,000 shares of Paragon 28 stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $9.12 per share, for a total transaction of $255,360.00. Following the transaction, the insider now owns 5,339,110 shares of the company’s stock, valued at approximately $48,692,683.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. MVM Partners LLC acquired a new stake in shares of Paragon 28 during the fourth quarter valued at about $134,879,000. Point72 Asset Management L.P. acquired a new stake in Paragon 28 in the fourth quarter valued at $15,981,000. Braidwell LP lifted its holdings in Paragon 28 by 57.4% during the 3rd quarter. Braidwell LP now owns 3,361,824 shares of the company’s stock worth $42,191,000 after buying an additional 1,225,702 shares during the period. First Light Asset Management LLC lifted its holdings in Paragon 28 by 39.4% during the 4th quarter. First Light Asset Management LLC now owns 3,817,794 shares of the company’s stock worth $47,455,000 after buying an additional 1,079,916 shares during the period. Finally, State Street Corp grew its position in shares of Paragon 28 by 506.5% in the 2nd quarter. State Street Corp now owns 886,101 shares of the company’s stock valued at $14,062,000 after buying an additional 740,003 shares during the last quarter. 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.