Intech Investment Management LLC Takes Position in Paragon 28, Inc. (NYSE:FNA)

Intech Investment Management LLC purchased a new stake in shares of Paragon 28, Inc. (NYSE:FNA) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,450 shares of the company’s stock, valued at approximately $70,000.

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of Paragon 28 by 46,660.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after purchasing an additional 4,666 shares during the last quarter. Levin Capital Strategies L.P. purchased a new position in shares of Paragon 28 during the 2nd quarter valued at $68,000. Price T Rowe Associates Inc. MD grew its stake in shares of Paragon 28 by 16.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock worth $156,000 after acquiring an additional 1,766 shares during the period. Ballentine Partners LLC purchased a new stake in Paragon 28 in the 3rd quarter worth about $91,000. Finally, Creative Planning bought a new stake in Paragon 28 in the 3rd quarter valued at about $91,000. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their target price on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Needham & Company LLC lifted their price objective on shares of Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Stephens upgraded Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Paragon 28 presently has a consensus rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Trading Down 1.8 %

Shares of Paragon 28 stock opened at $10.03 on Monday. The company’s 50-day moving average price is $7.38 and its 200-day moving average price is $7.37. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. Paragon 28, Inc. has a 12-month low of $4.65 and a 12-month high of $14.79. The company has a market cap of $839.71 million, a price-to-earnings ratio of -13.55 and a beta of 1.52.

Paragon 28 (NYSE:FNA) last posted its 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 business had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $60.58 million. During the same period in the prior year, the company posted ($0.10) EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities analysts expect that Paragon 28, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Mvm Partners, Llc sold 4,256 shares of Paragon 28 stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $10.00, for a total transaction of $42,560.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 252,914 shares of company stock worth $2,585,514. Corporate insiders own 15.32% 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.