AxoGen, Inc. $AXGN Shares Acquired by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. boosted its AxoGen stake by 41.9% in Q1, buying an additional 194,949 shares and bringing its total holding to 660,553 shares worth about $21.9 million.
• Institutional ownership remains very high, with hedge funds and asset managers such as First Light, Vanguard, Morgan Stanley, Balyasny, and Wasatch also increasing positions; institutions now own about 80.29% of AxoGen.
• Wall Street remains generally positive on the stock, with nine Buy ratings and a consensus price target of $46.50, while the company recently reported quarterly EPS of $0.07, below expectations, despite revenue topping estimates.

Bessemer Group Inc. lifted its position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 41.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 660,553 shares of the medical equipment provider's stock after purchasing an additional 194,949 shares during the quarter. Bessemer Group Inc. owned about 1.24% of AxoGen worth $21,885,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. First Light Asset Management LLC raised its holdings in 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 valued at $49,142,000 after buying an additional 55,028 shares during the period. Vanguard Group Inc. increased its position in shares of AxoGen by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider's stock worth $93,934,000 after acquiring an additional 190,557 shares in the last quarter. Morgan Stanley increased its position in shares of AxoGen by 6.5% in the fourth quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider's stock worth $84,668,000 after acquiring an additional 157,029 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of 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 worth $20,953,000 after acquiring an additional 1,250,968 shares in the last quarter. Finally, Wasatch Advisors LP raised its stake in shares of AxoGen by 101.1% in the 1st quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider's stock valued at $61,534,000 after acquiring an additional 933,778 shares during the period. Institutional investors and hedge funds own 80.29% of the company's stock.

Insider Buying and Selling at AxoGen

In other AxoGen news, Director John Johnson sold 11,050 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $43.26, for a total value of $478,023.00. Following the completion of the transaction, the director directly owned 11,050 shares of the company's stock, valued at $478,023. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amy Mcbride Wendell sold 1,647 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $42.60, for a total value of $70,162.20. Following the sale, the director owned 93,826 shares of the company's stock, valued at $3,996,987.60. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,041 shares of company stock valued at $1,268,792 in the last ninety days. Insiders own 2.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AXGN. Citizens Jmp lifted their target price on shares of AxoGen from $42.00 to $50.00 and gave the company a "market outperform" rating in a report on Wednesday, April 29th. Canaccord Genuity Group increased their price target on AxoGen from $45.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Zacks Research raised AxoGen from a "strong sell" rating to a "hold" rating in a research report on Friday, May 29th. Weiss Ratings restated a "sell (d-)" rating on shares of AxoGen in a research note on Friday, May 29th. Finally, Wells Fargo & Company upped their target price on AxoGen from $40.00 to $48.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.50.

AxoGen Trading Up 0.2%

NASDAQ AXGN opened at $39.85 on Friday. The company's fifty day simple moving average is $42.29 and its 200-day simple moving average is $36.80. AxoGen, Inc. has a 52 week low of $11.25 and a 52 week high of $46.95. 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 stock has a market cap of $2.12 billion, a P/E ratio of -62.27 and a beta of 1.09.

AxoGen (NASDAQ:AXGN - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.05). AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. The firm had revenue of $61.46 million for the quarter, compared to analyst estimates of $57.85 million. Equities research analysts predict that AxoGen, Inc. will post -0.37 EPS for the current fiscal year.

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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