Paragon 28 (NYSE:FNA) Sees Strong Trading Volume – Still a Buy?

Paragon 28, Inc. (NYSE:FNA) shares saw strong trading volume on Thursday . Approximately 2,050,027 shares were traded during trading, an increase of 20% from the previous session’s volume of 1,711,886 shares.The stock last traded at $13.02 and had previously closed at $12.99.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FNA. Stephens restated an “equal weight” rating and set a $13.00 price objective (down from $14.00) on shares of Paragon 28 in a research report on Thursday. Canaccord Genuity Group reiterated a “hold” rating on shares of Paragon 28 in a research note on Wednesday. William Blair downgraded Paragon 28 from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Needham & Company LLC reiterated a “hold” rating and set a $13.00 price objective on shares of Paragon 28 in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Paragon 28 has an average rating of “Hold” and an average target price of $14.60.

Paragon 28 Price Performance

The firm has a 50 day moving average of $10.59 and a 200-day moving average of $8.42. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60.

Paragon 28 (NYSE:FNA) last released its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The firm had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. During the same period in the prior year, the company posted ($0.10) EPS. The company’s revenue was up 18.0% compared to the same quarter last year. As a group, analysts predict that Paragon 28, Inc. will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Mvm Partners, Llc sold 4,256 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $10.00, for a total transaction of $42,560.00. Following the sale, the insider now owns 10,499,960 shares in the company, valued at approximately $104,999,600. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 300,192 shares of company stock worth $3,135,086 over the last ninety days. Corporate insiders own 15.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FNA. Rhumbline Advisers increased its stake in shares of Paragon 28 by 1.7% in the 4th quarter. Rhumbline Advisers now owns 62,861 shares of the company’s stock valued at $649,000 after purchasing an additional 1,024 shares during the last quarter. MN Wealth Advisors LLC grew its position in Paragon 28 by 1.4% in the fourth quarter. MN Wealth Advisors LLC now owns 84,535 shares of the company’s stock valued at $873,000 after acquiring an additional 1,200 shares during the last quarter. Ballentine Partners LLC raised its stake in Paragon 28 by 15.0% during the fourth quarter. Ballentine Partners LLC now owns 15,630 shares of the company’s stock worth $161,000 after acquiring an additional 2,043 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Paragon 28 by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 25,992 shares of the company’s stock worth $178,000 after acquiring an additional 2,142 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Paragon 28 in the 4th quarter valued at approximately $36,000. 63.57% of the stock is currently owned by institutional investors and hedge funds.

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.