Parkman Healthcare Partners LLC Sells 47,185 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Parkman Healthcare Partners LLC cut its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365,703 shares of the medical equipment provider's stock after selling 47,185 shares during the quarter. Parkman Healthcare Partners LLC owned about 0.83% of AxoGen worth $6,027,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AXGN. R Squared Ltd purchased a new stake in shares of AxoGen in the 4th quarter valued at approximately $30,000. US Bancorp DE purchased a new position in AxoGen during the 4th quarter worth $30,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of AxoGen in the fourth quarter valued at about $93,000. Fox Run Management L.L.C. purchased a new stake in AxoGen during the fourth quarter worth about $169,000. Finally, Sei Investments Co. acquired a new position in shares of AxoGen in the fourth quarter valued at approximately $188,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Trading Down 0.8%

Shares of NASDAQ:AXGN traded down $0.10 during trading on Monday, hitting $11.73. 199,801 shares of the company's stock were exchanged, compared to its average volume of 569,207. AxoGen, Inc. has a 1-year low of $5.90 and a 1-year high of $21.00. The firm has a 50-day moving average price of $16.13 and a two-hundred day moving average price of $16.25. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The firm has a market cap of $534.23 million, a P/E ratio of -36.66 and a beta of 1.19.

Wall Street Analysts Forecast Growth

AXGN has been the subject of several research reports. Canaccord Genuity Group decreased their price objective on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Cantor Fitzgerald reissued an "overweight" rating and issued a $24.00 price target on shares of AxoGen in a research note on Wednesday, March 5th. Finally, Lake Street Capital began coverage on shares of AxoGen in a research report on Monday, March 17th. They set a "buy" rating and a $30.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $22.20.

Insider Buying and Selling at AxoGen

In other news, insider Erick Wayne Devinney sold 15,111 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the sale, the insider now directly owns 217,762 shares in the company, valued at $3,810,835. This trade represents a 6.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Amy Mcbride Wendell sold 5,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the sale, the director now owns 97,899 shares of the company's stock, valued at $1,959,937.98. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.78% of the company's stock.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.