Bradley Foster & Sargent Inc. CT Has $794,000 Stock Position in AxoGen, Inc. $AXGN

Bradley Foster & Sargent Inc. CT lowered its position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 61.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,979 shares of the medical equipment provider's stock after selling 38,207 shares during the period. Bradley Foster & Sargent Inc. CT's holdings in AxoGen were worth $794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXGN. MCF Advisors LLC acquired a new position in AxoGen in the fourth quarter valued at about $30,000. Arax Advisory Partners raised its position in shares of AxoGen by 362.4% during the fourth 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 bought a new position in shares of AxoGen during the 4th quarter valued at about $36,000. Kestra Advisory Services LLC bought a new position in shares of AxoGen during the 4th quarter valued at about $39,000. Finally, KBC Group NV acquired a new position in shares of AxoGen in the 1st quarter valued at approximately $41,000. 80.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Zacks Research raised AxoGen from a "strong sell" rating to a "hold" rating in a research note on Friday, May 29th. Wall Street Zen raised shares of AxoGen from a "hold" rating to a "buy" rating in a research note on Sunday. Weiss Ratings reiterated a "sell (d-)" rating on shares of AxoGen in a report on Friday, May 29th. Wells Fargo & Company increased their price objective on shares of AxoGen from $40.00 to $48.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Finally, Raymond James Financial restated an "outperform" rating and set a $48.00 price objective on shares of AxoGen in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AxoGen currently has a consensus rating of "Moderate Buy" and an average price target of $46.50.

AxoGen Stock Up 4.2%

NASDAQ:AXGN opened at $41.14 on Tuesday. The stock has a 50-day simple moving average of $42.16 and a 200 day simple moving average of $37.16. AxoGen, Inc. has a 52-week low of $12.39 and a 52-week high of $46.95. The company has a market cap of $2.19 billion, a PE ratio of -64.28 and a beta of 1.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10.

AxoGen (NASDAQ:AXGN - Get Free Report) last released its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $57.85 million. On average, sell-side analysts expect that AxoGen, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity

In other AxoGen news, Director Amy Mcbride Wendell sold 1,647 shares of AxoGen stock in a transaction 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 sale, the director directly owned 93,826 shares in the company, valued at approximately $3,996,987.60. The trade was a 1.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathy Johnson Weiler sold 16,344 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $44.09, for a total transaction of $720,606.96. Following the sale, the director directly owned 16,344 shares in the company, valued at $720,606.96. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,041 shares of company stock worth $1,268,792 over the last ninety days. Insiders own 2.44% of the company's stock.

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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