Paragon 28’s (FNA) Hold Rating Reiterated at Canaccord Genuity Group

Paragon 28 (NYSE:FNA)‘s stock had its “hold” rating reiterated by equities research analysts at Canaccord Genuity Group in a research note issued on Wednesday,Benzinga reports.

FNA has been the subject of a number of other research reports. Stephens raised Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. William Blair downgraded Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Needham & Company LLC restated a “hold” rating and issued a $13.00 price objective on shares of Paragon 28 in a research note on Wednesday. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.60.

Paragon 28 Price Performance

Shares of FNA stock traded up $1.00 during mid-day trading on Wednesday, hitting $13.00. 20,918,508 shares of the stock traded hands, compared to its average volume of 1,648,896. Paragon 28 has a twelve month low of $4.65 and a twelve month high of $14.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. The company’s 50-day simple moving average is $10.48 and its 200-day simple moving average is $8.35. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -17.56 and a beta of 1.50.

Paragon 28 (NYSE:FNA) last released its quarterly 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. The business had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. Paragon 28’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) EPS. As a group, equities research analysts expect that Paragon 28 will post -0.64 earnings per share for the current year.

Insider Buying and Selling at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 20,136 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $11.63, for a total value of $234,181.68. Following the completion of the sale, the insider now owns 10,366,009 shares of the company’s stock, valued at approximately $120,556,684.67. This represents a 0.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 273,050 shares of company stock valued at $2,819,696. Company insiders own 15.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in Paragon 28 in the 3rd quarter valued at about $70,000. Creative Planning acquired a new stake in shares of Paragon 28 in the third quarter valued at approximately $91,000. Ballentine Partners LLC bought a new position in shares of Paragon 28 during the 3rd quarter worth approximately $91,000. Hsbc Holdings PLC acquired a new position in shares of Paragon 28 during the 2nd quarter worth approximately $104,000. Finally, Commerce Bank lifted its holdings in Paragon 28 by 28.5% during the 3rd quarter. Commerce Bank now owns 18,350 shares of the company’s stock valued at $123,000 after purchasing an additional 4,075 shares during the last quarter. Institutional investors own 63.57% of the company’s stock.

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.