Ballentine Partners LLC Boosts Stake in Paragon 28, Inc. (NYSE:FNA)

Ballentine Partners LLC raised its position in Paragon 28, Inc. (NYSE:FNA) by 15.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 15,630 shares of the company’s stock after acquiring an additional 2,043 shares during the quarter. Ballentine Partners LLC’s holdings in Paragon 28 were worth $161,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FNA. Barclays PLC raised its position in Paragon 28 by 180.6% during the 3rd quarter. Barclays PLC now owns 84,812 shares of the company’s stock worth $567,000 after buying an additional 54,591 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Paragon 28 by 2,141.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock valued at $5,243,000 after acquiring an additional 749,865 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Paragon 28 during the 3rd quarter worth about $386,000. Millennium Management LLC increased its position in shares of Paragon 28 by 5,834.0% during the second quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock worth $4,962,000 after purchasing an additional 713,263 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Paragon 28 by 2.6% in the third quarter. State Street Corp now owns 1,563,331 shares of the company’s stock worth $10,443,000 after buying an additional 39,075 shares in the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Paragon 28 Price Performance

Shares of NYSE:FNA opened at $11.63 on Monday. The company has a 50-day simple moving average of $10.42 and a 200-day simple moving average of $8.28. 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 stock has a market capitalization of $973.66 million, a price-to-earnings ratio of -15.72 and a beta of 1.50. Paragon 28, Inc. has a one year low of $4.65 and a one year high of $14.79.

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

Insiders Place Their Bets

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 4,256 shares of the stock in a transaction on Wednesday, November 27th. The stock was 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 represents a 0.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 252,914 shares of company stock worth $2,585,514. 15.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FNA has been the subject of a number of analyst reports. Canaccord Genuity Group dropped their price objective on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Stephens raised shares of Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $13.00 price target on shares of Paragon 28 in a report on Monday, January 13th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $15.60.

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.