Bamco Inc. NY Makes New $34.19 Million Investment in AxoGen, Inc. $AXGN

Bamco Inc. NY bought a new position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 740,210 shares of the medical equipment provider's stock, valued at approximately $34,190,000. Bamco Inc. NY owned about 1.38% of AxoGen as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MCF Advisors LLC bought a new stake in shares of AxoGen in the 4th quarter worth about $30,000. Arax Advisory Partners raised its position in AxoGen by 362.4% in the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider's stock worth $34,000 after purchasing an additional 819 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of AxoGen in the fourth quarter worth approximately $36,000. Kestra Advisory Services LLC bought a new stake in shares of AxoGen during the fourth quarter worth $39,000. Finally, KBC Group NV bought a new position in shares of AxoGen in the first quarter worth about $41,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AXGN. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AxoGen in a research report on Friday, May 29th. Wall Street Zen upgraded AxoGen from a "hold" rating to a "buy" rating in a report on Sunday, July 26th. Zacks Research raised shares of AxoGen from a "strong sell" rating to a "hold" rating in a research note on Friday, May 29th. HC Wainwright increased their target price on shares of AxoGen from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Truist Financial began coverage on shares of AxoGen in a report on Wednesday. They set a "buy" rating and a $60.00 price objective on the stock. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $51.56.

AxoGen Price Performance

Shares of AXGN opened at $51.58 on Thursday. AxoGen, Inc. has a 1-year low of $15.24 and a 1-year high of $51.99. The firm has a market capitalization of $2.77 billion, a PE ratio of -75.85 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04. The company's fifty day moving average price is $44.49 and its 200-day moving average price is $39.32.

AxoGen (NASDAQ:AXGN - Get Free Report) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, meeting analysts' consensus estimates of $0.12. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%.The firm had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. On average, equities research analysts predict that AxoGen, Inc. will post -0.45 EPS for the current year.

Insiders Place Their Bets

In other AxoGen news, Director Amy Mcbride Wendell sold 13,353 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total value of $646,552.26. Following the sale, the director directly owned 107,976 shares of the company's stock, valued at approximately $5,228,197.92. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Johnson Weiler sold 14,150 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $45.30, for a total transaction of $640,995.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 95,003 shares of company stock worth $4,482,997. 2.44% of the stock is owned by corporate 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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