Assenagon Asset Management S.A. trimmed its position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 24.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,043,650 shares of the medical equipment provider's stock after selling 337,613 shares during the period. Assenagon Asset Management S.A. owned 1.96% of AxoGen worth $48,206,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in AXGN. Commonwealth Equity Services LLC grew its holdings in shares of AxoGen by 1.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider's stock worth $703,000 after purchasing an additional 371 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in AxoGen by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider's stock valued at $296,000 after purchasing an additional 525 shares in the last quarter. Arax Advisory Partners raised its stake in AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider's stock valued at $34,000 after purchasing an additional 819 shares in the last quarter. Brooklyn Investment Group lifted its position in AxoGen by 4.2% during the fourth quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider's stock valued at $688,000 after purchasing an additional 823 shares during the last quarter. Finally, MCF Advisors LLC bought a new stake in AxoGen during the fourth quarter valued at approximately $30,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.
AxoGen Stock Performance
NASDAQ:AXGN opened at $46.43 on Friday. The business has a 50 day moving average price of $42.64 and a 200-day moving average price of $37.87. AxoGen, Inc. has a fifty-two week low of $13.64 and a fifty-two week high of $46.95. 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 has a market cap of $2.50 billion, a PE ratio of -68.28 and a beta of 1.11.
AxoGen (NASDAQ:AXGN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate 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 analysts' expectations of $67.10 million. Equities research analysts predict that AxoGen, Inc. will post -0.45 earnings per share for the current year.
Analysts Set New Price Targets
AXGN has been the subject of several research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of AxoGen in a research report on Friday, May 29th. Raymond James Financial restated an "outperform" rating and set a $48.00 price target on shares of AxoGen in a research report on Wednesday, April 29th. HC Wainwright increased their price objective on AxoGen from $50.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Citizens Jmp raised their price objective on AxoGen from $50.00 to $55.00 and gave the company a "market outperform" rating in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded AxoGen from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $51.00.
Read Our Latest Stock Report on AXGN
AxoGen Company Profile
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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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