AxoGen, Inc. $AXGN Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group increased its stake in AxoGen by 7.1% in the fourth quarter, bringing its holdings to 2.87 million shares worth about $93.9 million.
• AxoGen reported Q1 earnings of $0.07 per share, missing analyst estimates, although revenue of $61.46 million came in above expectations.
• Wall Street remains mostly upbeat on the stock, with nine Buy ratings and a consensus price target of $46.50, even as some insiders recently sold shares.

Vanguard Group Inc. raised its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,869,955 shares of the medical equipment provider's stock after purchasing an additional 190,557 shares during the quarter. Vanguard Group Inc. owned 6.22% of AxoGen worth $93,934,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. First Light Asset Management LLC grew its stake in AxoGen by 28.2% during the 3rd quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider's stock valued at $103,574,000 after purchasing an additional 1,276,487 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its stake in AxoGen by 20.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,958,406 shares of the medical equipment provider's stock valued at $34,938,000 after purchasing an additional 332,498 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of AxoGen by 183.9% in the 2nd 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. Wasatch Advisors LP grew its position in shares of AxoGen by 14.3% in the 3rd quarter. Wasatch Advisors LP now owns 1,639,351 shares of the medical equipment provider's stock worth $29,246,000 after acquiring an additional 205,569 shares in the last quarter. Finally, Soleus Capital Management L.P. grew its position in shares of AxoGen by 0.9% in the 2nd quarter. Soleus Capital Management L.P. now owns 1,459,395 shares of the medical equipment provider's stock worth $15,834,000 after acquiring an additional 13,278 shares in the last quarter. Institutional investors and hedge funds own 80.29% of the company's stock.

AxoGen Trading Down 1.6%

NASDAQ:AXGN opened at $40.29 on Thursday. AxoGen, Inc. has a 12-month low of $9.22 and a 12-month high of $45.83. The firm has a market capitalization of $2.14 billion, a P/E ratio of -62.95 and a beta of 1.17. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33. The business has a 50 day simple moving average of $34.97 and a 200 day simple moving average of $31.81.

AxoGen (NASDAQ:AXGN - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) 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 company 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 -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

AXGN has been the subject of several research reports. Wells Fargo & Company lifted 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. Lake Street Capital lifted their target price on AxoGen from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Zacks Research lowered AxoGen from a "hold" rating to a "strong sell" rating in a research report on Monday, April 27th. Raymond James Financial reiterated an "outperform" rating and issued a $48.00 target price on shares of AxoGen in a research report on Wednesday, April 29th. Finally, Citigroup reiterated an "outperform" rating on shares of AxoGen in a research report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.50.

Insider Buying and Selling

In related news, Director Kathy Johnson Weiler sold 16,344 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total transaction of $720,606.96. Following the completion of the transaction, the director owned 16,344 shares in the company, valued at $720,606.96. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Mcbride Wendell sold 1,647 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $42.60, for a total value of $70,162.20. Following the transaction, 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 position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 34,262 shares of company stock worth $1,440,250. 2.44% of the stock is owned by company insiders.

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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