AxoGen (NASDAQ:AXGN) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• AxoGen shares rose about 4% to roughly $39.39 on Friday with nearly 994,000 shares traded, and the stock carries a consensus price target of $39.75 with nine analysts rating it Buy and one Sell, yielding an overall Moderate Buy consensus.
• The company reported Q1 EPS of $0.07 versus $0.08 expected (a slight miss) and revenue of $59.9M in line with estimates, while remaining unprofitable (negative net margin) and sell-side analysts forecast approximately -$0.29 EPS for the year.
• An insider sold 5,221 shares (reducing their stake by 1.95%), insiders now hold 2.78% of shares, and institutional investors own about 80.29% of the company.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) shares saw strong trading volume on Friday . 993,843 shares were traded during trading, a decline of 0% from the previous session's volume of 996,772 shares.The stock last traded at $39.3880 and had previously closed at $37.37.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company started coverage on shares of AxoGen in a report on Thursday, February 19th. They issued an "overweight" rating and a $40.00 target price for the company. Citigroup restated an "outperform" rating on shares of AxoGen in a research report on Tuesday, February 24th. Citizens Jmp raised their price objective on shares of AxoGen from $34.00 to $42.00 and gave the stock a "market outperform" rating in a research note on Tuesday, February 24th. Raymond James Financial reissued an "outperform" rating and set a $41.00 target price on shares of AxoGen in a research note on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of AxoGen in a research report on Monday, December 29th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, AxoGen currently has an average rating of "Moderate Buy" and a consensus price target of $39.75.

AxoGen Stock Up 4.0%

The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.31 and a current ratio of 5.11. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -114.38 and a beta of 0.98. The business's 50 day simple moving average is $32.65 and its 200-day simple moving average is $28.85.

AxoGen (NASDAQ:AXGN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%.The firm had revenue of $59.90 million for the quarter, compared to analysts' expectations of $59.90 million. Sell-side analysts expect that AxoGen, Inc. will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Erick Wayne Devinney sold 5,221 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $32.84, for a total transaction of $171,457.64. Following the transaction, the insider owned 262,781 shares of the company's stock, valued at approximately $8,629,728.04. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.78% of the company's stock.

Institutional Investors Weigh In On AxoGen

Large investors have recently bought and sold shares of the business. Diversified Trust Co lifted its position in shares of AxoGen by 15.1% in the first quarter. Diversified Trust Co now owns 12,998 shares of the medical equipment provider's stock worth $431,000 after buying an additional 1,709 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of AxoGen during the 4th quarter valued at about $52,000. Invesco Ltd. raised its stake in shares of AxoGen by 86.1% in the 4th quarter. Invesco Ltd. now owns 189,345 shares of the medical equipment provider's stock valued at $6,197,000 after acquiring an additional 87,622 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in AxoGen by 41.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,857 shares of the medical equipment provider's stock worth $503,000 after purchasing an additional 4,664 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in AxoGen during the fourth quarter worth approximately $228,000. 80.29% of the stock is currently owned by institutional investors.

About AxoGen

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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