MVM Partners, LLC, a significant shareholder in Paragon 28, Inc. (NYSE:FNA), disclosed the sale of 48,270 shares of common stock over two days, according to a recent SEC filing. The transactions, which occurred on November 26 and 27, were executed at prices ranging from $10.00 to $10.03 per share, totaling $484,020. The stock, currently trading at $10.31, has shown strong momentum with a 32% gain over the past six months, though InvestingPro data indicates it may be overvalued at current levels.
Following these sales, MVM Partners holds 10,499,960 shares indirectly, as indicated by footnotes in the filing. The shares are distributed among MVM V (2020) LP, MVM V LP, and MVM GP (No. 5) LP, with MVM Partners acting as the manager for these entities. According to InvestingPro analysis, Paragon 28 maintains strong liquidity with a current ratio of 3.5, and its liquid assets exceed short-term obligations. Investors can access 8 additional ProTips and a comprehensive Pro Research Report covering Paragon 28's financial health, valuation metrics, and growth prospects on InvestingPro.
In other recent news, Paragon 28, a leading entity in the foot and ankle orthopedic market, has reported substantial growth for the third quarter of 2024. The company disclosed a record global revenue of $62.3 million, marking an 18.1% increase from the previous year. This growth was supported by a 14.8% increase in the U.S. market, contributing $51.2 million, and a significant 35.7% growth in international markets.
Operational efficiency improvements were also noticeable in Paragon 28's performance, demonstrated by a significant decrease in free cash flow usage and the first positive adjusted EBITDA since the company's initial public offering. The company has revised its full-year net revenue guidance upwards, reflecting these positive developments.
Paragon 28's recent achievements include the launch of 13 new products, contributing to its growth. The company remains dedicated to achieving EBITDA positivity in 2025 and cash flow positivity in 2026. These recent developments indicate a strong trajectory for the company in the near future.
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