Not if you look at the numbers. Many cosmetics now advertise "no parabens," as they cater to chemical paranoia. Parabens are very effective preservatives and prevent bacterial growth in creams and lotions. The reason that they have made news is that they have estrogenic activity. But the fact is that this activity by comparison to the body's natural estrogen is essentially insignificant, some 10,000 times less. Based on studies carried out with animals, the no observed adverse effect level (NOAEL) has been determined to be about 800 mgs per kg of body mass. The NOAEL is the maximum amount that can be given on a regular basis without causing any effect. This means that a 70 kg person would have to apply 55 grams of parabens regularly to have an adverse effect, assuming that it is all absorbed when applied to the skin, which of course is not the case. And how much cream does this translate to? Given that the most parabens used as a preservative makes up about 0.8% of the weight of a lotion, a quick calculation shows that about 70 bottles each containing 100 mL each would have to be applied to the skin every day to approach the NOAEL. Basically, parabens "toxicity" is a non-issue. And not that this is of any relevance, but parabens occur in nature. They are found in blueberries as well as in the secretions female dogs use to attract males.
