Needham & Company LLC Forecasts Strong Price Appreciation for Paragon 28 (NYSE:FNA) Stock

Paragon 28 (NYSE:FNA) had its price objective boosted by Needham & Company LLC from $11.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 34.02% from the company’s previous close.

Separately, Piper Sandler reiterated an “overweight” rating and set a $12.00 target price (down previously from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Paragon 28 presently has an average rating of “Buy” and an average price target of $15.60.

Paragon 28 Stock Performance

Shares of NYSE FNA opened at $9.70 on Wednesday. Paragon 28 has a 1 year low of $4.65 and a 1 year high of $14.79. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.70 and a current ratio of 3.57. The company’s fifty day moving average price is $6.32 and its 200 day moving average price is $7.22. The company has a market capitalization of $810.34 million, a PE ratio of -14.36 and a beta of 1.01.

Paragon 28 (NYSE:FNA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative return on equity of 36.84% and a negative net margin of 25.31%. The firm had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $60.58 million. During the same period last year, the firm earned ($0.10) EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis. On average, research analysts predict that Paragon 28 will post -0.68 earnings per share for the current year.

Institutional Trading of Paragon 28

Large investors have recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in Paragon 28 by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock worth $14,818,000 after purchasing an additional 273,077 shares during the last quarter. Millennium Management LLC boosted its position in 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 acquiring an additional 713,263 shares during the last quarter. First Light Asset Management LLC grew its stake in Paragon 28 by 115.0% during the 2nd quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock valued at $55,916,000 after acquiring an additional 4,371,864 shares in the last quarter. Peregrine Capital Management LLC acquired a new stake in Paragon 28 in the 2nd quarter valued at about $3,351,000. Finally, Thrivent Financial for Lutherans lifted its stake in Paragon 28 by 15.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock worth $6,986,000 after purchasing an additional 135,911 shares in the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

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.