ArrowMark Colorado Holdings LLC Buys 332,498 Shares of AxoGen, Inc. $AXGN

Key Points

• ArrowMark Colorado Holdings LLC raised its stake in AxoGen (AXGN) by 20.4% in Q3, buying 332,498 shares to hold 1,958,406 shares (about 4.25% of the company) worth roughly $34.94 million.
• AxoGen missed EPS expectations on its most recent report ($0.07 vs. $0.08) with revenue in line at $59.9M; the company shows negative ROE (-13.44%) and net margin (-6.97%), a negative P/E (~-95), and analysts forecast -0.29 EPS for the current year.
• Insiders sold 105,149 shares (~$3.10M) over the last quarter, trimming insider ownership to 2.78%, while sell-side coverage is mostly positive (nine Buys, one Sell) with an average price target of $39.38.

ArrowMark Colorado Holdings LLC grew its stake in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 20.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,958,406 shares of the medical equipment provider's stock after purchasing an additional 332,498 shares during the period. ArrowMark Colorado Holdings LLC owned about 4.25% of AxoGen worth $34,938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AXGN. Future Financial Wealth Managment LLC bought a new position in AxoGen in the 3rd quarter valued at approximately $27,000. State of Alaska Department of Revenue acquired a new stake in AxoGen in the third quarter valued at approximately $43,000. AdvisorNet Financial Inc increased its holdings in shares of AxoGen by 500.0% during the third quarter. AdvisorNet Financial Inc now owns 4,800 shares of the medical equipment provider's stock worth $86,000 after buying an additional 4,000 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of AxoGen by 189.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider's stock worth $55,000 after buying an additional 3,327 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of AxoGen in the 2nd quarter valued at $69,000. 80.29% of the stock is owned by institutional investors.

AxoGen Stock Performance

Shares of AxoGen stock opened at $32.34 on Friday. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -95.11 and a beta of 0.98. AxoGen, Inc. has a twelve month low of $9.22 and a twelve month high of $36.00. The company's fifty day moving average is $32.65 and its 200 day moving average is $26.19. The company has a quick ratio of 3.31, a current ratio of 5.11 and a debt-to-equity ratio of 0.51.

AxoGen (NASDAQ:AXGN - Get Free Report) last announced its earnings results 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). The company had revenue of $59.90 million for the quarter, compared to the consensus estimate of $59.90 million. AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%. Sell-side analysts forecast that AxoGen, Inc. will post -0.29 EPS for the current year.

Insider Activity

In related news, Director Amy Mcbride Wendell sold 43,684 shares of the company's stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $29.31, for a total value of $1,280,378.04. Following the sale, the director directly owned 93,826 shares in the company, valued at $2,750,040.06. This represents a 31.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Lindsey Marie Hartley sold 14,812 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $29.86, for a total transaction of $442,286.32. Following the sale, the chief financial officer directly owned 31,376 shares of the company's stock, valued at $936,887.36. This represents a 32.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 105,149 shares of company stock valued at $3,101,261. Company insiders own 2.78% of the company's stock.

Analyst Ratings Changes

AXGN has been the topic of several recent research reports. Jefferies Financial Group raised their price objective on AxoGen from $29.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, December 4th. Canaccord Genuity Group upped their target price on AxoGen from $27.00 to $37.00 and gave the stock a "buy" rating in a report on Friday, December 5th. Citizens Jmp increased their target price on AxoGen from $34.00 to $42.00 and gave the company a "market outperform" rating in a research report on Tuesday, February 24th. Weiss Ratings reissued a "sell (e+)" rating on shares of AxoGen in a research note on Monday, December 29th. Finally, Mizuho assumed coverage on AxoGen in a report on Monday, December 1st. They set an "outperform" rating and a $40.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, AxoGen presently has an average rating of "Moderate Buy" and an average price target of $39.38.

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.

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