Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 67,118 shares of the medical equipment provider's stock, valued at approximately $3,100,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of AxoGen at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. First Light Asset Management LLC increased 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 acquiring an additional 55,028 shares during the period. BlackRock Inc. acquired a new position in AxoGen during the second quarter valued at $204,123,000. Vanguard Group Inc. lifted its position in 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 period. Morgan Stanley boosted its holdings in AxoGen by 6.5% in 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. boosted its holdings in AxoGen by 183.9% in 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 last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at AxoGen
In related news, Director Kathy Johnson Weiler sold 14,150 shares of AxoGen stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $45.30, for a total value of $640,995.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marc A. Began sold 67,500 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the completion of the sale, the executive vice president directly owned 50,135 shares of the company's stock, valued at approximately $2,373,390.90. The trade was a 57.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 95,003 shares of company stock worth $4,482,997 in the last 90 days. Corporate insiders own 2.44% of the company's stock.
Wall Street Analyst Weigh In
AXGN has been the topic of several analyst reports. Wall Street Zen raised AxoGen from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. HC Wainwright boosted their price objective on AxoGen from $50.00 to $53.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Citigroup restated a "market outperform" rating on shares of AxoGen in a research note on Thursday, July 30th. Canaccord Genuity Group raised their target price on AxoGen from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Citizens Jmp lifted their price target on AxoGen from $50.00 to $55.00 and gave the company a "market outperform" rating in a research report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $51.56.
Read Our Latest Research Report on AxoGen
AxoGen Stock Down 0.5%
AXGN stock opened at $51.47 on Friday. AxoGen, Inc. has a one year low of $15.24 and a one year high of $52.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60. The firm's fifty day moving average is $44.76 and its 200 day moving average is $39.52. The firm has a market cap of $2.77 billion, a PE ratio of -75.69 and a beta of 1.11.
AxoGen (NASDAQ:AXGN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, hitting 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 the consensus estimate of $67.10 million. On average, research analysts forecast that AxoGen, Inc. will post -0.45 EPS for the current year.
About AxoGen
(
Free Report)
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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