Paragon 28, Inc. (NYSE:FNA – Get Rating) fell 5.6% on Wednesday following insider selling activity. The stock traded as low as $18.84 and last traded at $18.84. 1,605 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 230,415 shares. The stock had previously closed at $19.96.
Specifically, insider Matthew Jarboe sold 35,110 shares of the business's stock in a transaction dated Friday, December 23rd. The shares were sold at an average price of $20.93, for a total value of $734,852.30. Following the completion of the sale, the insider now owns 271,764 shares of the company's stock, valued at $5,688,020.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Mvm Partners Llp sold 1,510 shares of the stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $20.25, for a total value of $30,577.50. Following the completion of the sale, the insider now directly owns 13,679,890 shares of the company's stock, valued at approximately $277,017,772.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew Jarboe sold 35,110 shares of Paragon 28 stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $20.93, for a total value of $734,852.30. Following the completion of the sale, the insider now directly owns 271,764 shares of the company's stock, valued at approximately $5,688,020.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 320,329 shares of company stock valued at $6,339,350. 19.50% of the stock is owned by corporate insiders.
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Wall Street Analysts Forecast Growth
FNA has been the subject of a number of research analyst reports. B. Riley reiterated a "buy" rating and set a $32.00 price target on shares of Paragon 28 in a research report on Wednesday, December 14th. Piper Sandler boosted their target price on Paragon 28 to $32.00 in a research report on Wednesday, November 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $27.29.
Paragon 28 Price Performance
The firm has a fifty day simple moving average of $19.32 and a 200 day simple moving average of $18.41. The company has a market capitalization of $1.45 billion, a PE ratio of -41.87 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.28 and a current ratio of 3.60.
Hedge Funds Weigh In On Paragon 28
Several institutional investors and hedge funds have recently modified their holdings of FNA. JPMorgan Chase & Co. boosted its holdings in shares of Paragon 28 by 22.9% during the 1st quarter. JPMorgan Chase & Co. now owns 4,252 shares of the company's stock worth $71,000 after purchasing an additional 793 shares during the last quarter. Northern Trust Corp increased its position in shares of Paragon 28 by 1.8% during the first quarter. Northern Trust Corp now owns 77,061 shares of the company's stock worth $1,290,000 after acquiring an additional 1,343 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Paragon 28 by 73.1% during the third quarter. Tower Research Capital LLC TRC now owns 3,796 shares of the company's stock worth $68,000 after acquiring an additional 1,603 shares during the period. Sei Investments Co. increased its holdings in Paragon 28 by 2.9% in the second quarter. Sei Investments Co. now owns 70,274 shares of the company's stock valued at $1,114,000 after buying an additional 1,984 shares during the last quarter. Finally, Tudor Investment Corp Et Al increased its holdings in Paragon 28 by 13.7% in the third quarter. Tudor Investment Corp Et Al now owns 18,920 shares of the company's stock valued at $337,000 after buying an additional 2,274 shares during the last quarter. Institutional investors and hedge funds own 21.92% of the company's stock.
About Paragon 28
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Paragon 28, Inc designs, 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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