Globeflex Capital L P purchased a new position in AxoGen, Inc. (NASDAQ:AXGN – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 58,497 shares of the medical equipment provider’s stock, valued at approximately $2,702,000.
A number of other large investors have also added to or reduced their stakes in AXGN. First Light Asset Management LLC lifted its stake in shares of AxoGen by 1.2% in the second quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock worth $49,142,000 after buying an additional 55,028 shares in the last quarter. BlackRock Inc. bought a new stake in shares of AxoGen in the second quarter worth approximately $204,123,000. Vanguard Group Inc. raised its holdings in shares of AxoGen by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock valued at $93,934,000 after purchasing an additional 190,557 shares during the last quarter. Morgan Stanley raised its holdings in shares of AxoGen by 6.5% during the fourth quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock valued at $84,668,000 after purchasing an additional 157,029 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in AxoGen by 183.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after purchasing an additional 1,250,968 shares during the period. Hedge funds and other institutional investors own 80.29% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on AXGN shares. Raymond James Financial restated an “outperform” rating and issued a $48.00 target price on shares of AxoGen in a report on Wednesday, April 29th. HC Wainwright increased their price target on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Canaccord Genuity Group raised their price target on AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Truist Financial set a $55.00 price objective on AxoGen in a report on Thursday, July 30th. Finally, Citigroup reiterated a “market outperform” rating on shares of AxoGen in a research report on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AxoGen presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.
AxoGen Stock Performance
Shares of NASDAQ AXGN opened at $50.40 on Monday. The firm has a 50 day moving average of $44.11 and a 200 day moving average of $38.98. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -74.12 and a beta of 1.11. AxoGen, Inc. has a 12-month low of $13.64 and a 12-month high of $51.06.
AxoGen (NASDAQ:AXGN – Get Free Report) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The business had revenue of $69.73 million during the quarter, compared to analysts’ expectations of $67.10 million. On average, research analysts anticipate that AxoGen, Inc. will post -0.45 earnings per share for the current year.
Insider Activity
In other news, Director Amy Mcbride Wendell sold 13,353 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total value of $646,552.26. Following the completion of the sale, the director directly owned 107,976 shares in the company, valued at $5,228,197.92. This represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Johnson Weiler sold 14,150 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $45.30, for a total value of $640,995.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 95,003 shares of company stock valued at $4,482,997 in the last 90 days. Company insiders own 2.44% of the company’s stock.
AxoGen Profile
AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.
The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.
Further Reading
- Five stocks we like better than AxoGen
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding AXGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AxoGen, Inc. (NASDAQ:AXGN – Free Report).
Receive News & Ratings for AxoGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AxoGen and related companies with MarketBeat.com's FREE daily email newsletter.
