Paragon 28, Inc. (NYSE:FNA) Major Shareholder Sells $732,871.28 in Stock

Paragon 28, Inc. (NYSE:FNA) major shareholder Mvm Partners, Llc sold 72,133 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $10.16, for a total value of $732,871.28. Following the sale, the insider now owns 10,559,065 shares in the company, valued at approximately $107,280,100.40. This trade represents a 0.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Mvm Partners, Llc also recently made the following trade(s):

• On Monday, November 25th, Mvm Partners, Llc sold 10,835 shares of Paragon 28 stock. The stock was sold at an average price of $10.09, for a total value of $109,325.15.
• On Wednesday, November 20th, Mvm Partners, Llc sold 147,581 shares of Paragon 28 stock. The stock was sold at an average price of $10.28, for a total value of $1,517,132.68.

Paragon 28 Stock Up 0.1 %

Shares of NYSE:FNA opened at $9.99 on Thursday. Paragon 28, Inc. has a 1 year low of $4.65 and a 1 year high of $14.79. The stock has a 50-day simple moving average of $6.89 and a 200-day simple moving average of $7.26. 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 $836.36 million, a P/E ratio of -13.50 and a beta of 1.01.

Paragon 28 (NYSE:FNA) last released its quarterly earnings data 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 company had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Equities analysts forecast that Paragon 28, Inc. will post -0.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FNA. Canaccord Genuity Group reduced their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Needham & Company LLC increased their price target on Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler reissued an “overweight” rating and set a $12.00 price target (down previously from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Paragon 28 currently has an average rating of “Buy” and an average price target of $15.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings 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 valued at $32,000 after buying an additional 4,666 shares during the period. Levin Capital Strategies L.P. purchased a new stake in shares of Paragon 28 during the 2nd quarter valued at about $68,000. Intech Investment Management LLC purchased a new stake in shares of Paragon 28 during the 3rd quarter valued at about $70,000. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $156,000 after buying an additional 1,766 shares during the period. Finally, Ballentine Partners LLC purchased a new stake in shares of Paragon 28 during the 3rd quarter valued at about $91,000. Institutional investors and hedge funds 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.