Paragon 28, Inc. (NYSE:FNA) Shares Acquired by Park Edge Advisors LLC

by · The Markets Daily

Park Edge Advisors LLC raised its position in Paragon 28, Inc. (NYSE:FNA – Free Report) by 2.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 598,870 shares of the company’s stock after purchasing an additional 15,727 shares during the period. Paragon 28 accounts for approximately 1.1% of Park Edge Advisors LLC’s portfolio, making the stock its 9th largest position. Park Edge Advisors LLC owned 0.72% of Paragon 28 worth $4,000,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. First Light Asset Management LLC increased its stake in shares of Paragon 28 by 115.0% in 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. Vanguard Group Inc. increased its stake in shares of Paragon 28 by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company’s stock valued at $26,012,000 after acquiring an additional 55,851 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Paragon 28 by 29.5% in the 1st 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 in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Paragon 28 by 15.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock valued at $6,986,000 after acquiring an additional 135,911 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Paragon 28 by 5,834.0% in the 2nd quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock valued at $4,962,000 after acquiring an additional 713,263 shares in the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

Paragon 28 Stock Up 2.3 %

FNA stock traded up $0.11 during midday trading on Friday, reaching $4.89. 299,456 shares of the company’s stock traded hands, compared to its average volume of 367,234. The company has a market cap of $408.51 million, a price-to-earnings ratio of -7.09 and a beta of 0.97. The firm’s fifty day moving average price is $6.75 and its 200-day moving average price is $7.53. The company has a quick ratio of 1.70, a current ratio of 3.57 and a debt-to-equity ratio of 0.75. Paragon 28, Inc. has a 52 week low of $4.66 and a 52 week high of $14.79.

Paragon 28 (NYSE:FNA – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). The business had revenue of $61.02 million during the quarter, compared to analyst estimates of $60.08 million. Paragon 28 had a negative net margin of 24.64% and a negative return on equity of 32.39%. Paragon 28’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) EPS. As a group, sell-side analysts forecast that Paragon 28, Inc. will post -0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on FNA. Piper Sandler reiterated an “overweight” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Needham & Company LLC lowered their price objective on shares of Paragon 28 from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Read Our Latest Research Report on Paragon 28

Paragon 28 Company Profile

(Free Report)

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.

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