AxoGen (NASDAQ:AXGN) Director Sells $720,606.96 in Stock

Key Points

• Director Kathy Johnson Weiler sold 16,344 shares of AxoGen stock on May 7 at an average price of $44.09, totaling about $720,607. The sale cut her direct ownership by 50%.
• AxoGen reported quarterly EPS of $0.07, missing analysts’ expectations of $0.12, though revenue came in at $61.46 million versus estimates of $57.85 million.
• Analyst sentiment is mixed but generally positive, with a consensus rating of “Moderate Buy” and an average price target of $46.50, while recent firm targets have been raised as high as $50.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) Director Kathy Johnson Weiler sold 16,344 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total value of $720,606.96. Following the completion of the transaction, the director directly owned 16,344 shares in the company, valued at approximately $720,606.96. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

AxoGen Stock Performance

NASDAQ AXGN traded down $1.35 on Friday, hitting $42.06. 552,122 shares of the company traded hands, compared to its average volume of 1,037,461. The business's 50 day moving average price is $34.20 and its 200-day moving average price is $31.15. AxoGen, Inc. has a 52-week low of $9.22 and a 52-week high of $45.83. The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -65.72 and a beta of 1.17.

AxoGen (NASDAQ:AXGN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.05). AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%.The company had revenue of $61.46 million during the quarter, compared to analysts' expectations of $57.85 million. Equities analysts expect that AxoGen, Inc. will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On AxoGen

A number of institutional investors and hedge funds have recently made changes to their positions in AXGN. PNC Financial Services Group Inc. raised its position in shares of AxoGen by 6.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider's stock valued at $296,000 after buying an additional 525 shares in the last quarter. WCM Investment Management LLC grew its position in AxoGen by 39.7% in the first quarter. WCM Investment Management LLC now owns 559,530 shares of the medical equipment provider's stock worth $17,524,000 after acquiring an additional 158,914 shares in the last quarter. KBC Group NV purchased a new position in AxoGen in the first quarter worth about $41,000. Bessemer Group Inc. increased its stake in AxoGen by 41.9% during the first quarter. Bessemer Group Inc. now owns 660,553 shares of the medical equipment provider's stock worth $21,885,000 after acquiring an additional 194,949 shares during the last quarter. Finally, Westover Capital Advisors LLC increased its stake in AxoGen by 48.8% during the first quarter. Westover Capital Advisors LLC now owns 22,716 shares of the medical equipment provider's stock worth $753,000 after acquiring an additional 7,447 shares during the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AXGN shares. Citizens Jmp upped their price target on shares of AxoGen from $42.00 to $50.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 29th. Zacks Research cut shares of AxoGen from a "hold" rating to a "strong sell" rating in a research note on Monday, April 27th. Wall Street Zen lowered AxoGen from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Lake Street Capital raised their price target on AxoGen from $40.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Finally, Citigroup restated an "outperform" rating on shares of AxoGen in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $46.50.

AxoGen Company 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.

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