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 company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 10,559,065 shares in the company, valued at approximately $107,280,100.40. This represents a 0.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions 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 shares were sold at an average price of $10.09, for a total transaction of $109,325.15.
• On Wednesday, November 20th, Mvm Partners, Llc sold 147,581 shares of Paragon 28 stock. The shares were sold at an average price of $10.28, for a total transaction of $1,517,132.68.

Paragon 28 Price Performance

NYSE:FNA opened at $9.99 on Friday. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. Paragon 28, Inc. has a 52 week low of $4.65 and a 52 week high of $14.79. The stock’s 50-day moving average price is $6.95 and its 200-day moving average price is $7.28. The stock has a market capitalization of $836.36 million, a PE ratio of -13.50 and a beta of 1.01.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. The company had revenue of $62.30 million for 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 quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share. As a group, equities analysts expect that Paragon 28, Inc. will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Paragon 28

A number of large investors have recently added to or reduced their stakes in FNA. Vanguard Group Inc. grew its position in shares of Paragon 28 by 2.7% in the first quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company’s stock valued at $26,012,000 after purchasing an additional 55,851 shares during the period. Price T Rowe Associates Inc. MD increased its stake in 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 buying an additional 1,766 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Paragon 28 by 29.5% during the first quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock valued at $14,818,000 after acquiring an additional 273,077 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Paragon 28 by 46,660.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after acquiring an additional 4,666 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Paragon 28 by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 159,822 shares of the company’s stock worth $1,093,000 after purchasing an additional 24,440 shares in the last quarter. 63.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on FNA shares. Canaccord Genuity Group reduced their price objective on 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 boosted their price target on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price objective (down previously from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus 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.