Capricorn Fund Managers Ltd Buys Shares of 687,600 AxoGen, Inc. $AXGN

Key Points

• Capricorn Fund Managers Ltd opened a new position in AxoGen, buying 687,600 shares worth about $22.78 million. The stake represents 3.6% of Capricorn’s holdings and makes AxoGen its fourth-largest holding.
• AxoGen shares were up 3.3% to $46.19, near the stock’s 52-week high of $46.26. The company has a market cap of $2.46 billion and strong liquidity ratios, but remains unprofitable.
• In its latest earnings report, AxoGen missed EPS estimates with $0.07 per share, though revenue came in above expectations at $61.46 million. Analysts currently rate the stock a Moderate Buy with an average price target of $46.50.

Capricorn Fund Managers Ltd bought a new position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 687,600 shares of the medical equipment provider's stock, valued at approximately $22,780,000. AxoGen accounts for 3.6% of Capricorn Fund Managers Ltd's holdings, making the stock its 4th biggest holding. Capricorn Fund Managers Ltd owned 1.32% of AxoGen at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of AxoGen by 14.2% in the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider's stock valued at $704,000 after acquiring an additional 4,723 shares in the last quarter. AQR Capital Management LLC grew its holdings in AxoGen by 45.3% during the 1st quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider's stock worth $442,000 after acquiring an additional 7,453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AxoGen by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider's stock worth $466,000 after acquiring an additional 1,057 shares in the last quarter. Jones Financial Companies Lllp increased its position in AxoGen by 104,810.0% during the 1st quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider's stock valued at $194,000 after purchasing an additional 10,481 shares during the period. Finally, JPMorgan Chase & Co. increased its position in AxoGen by 37.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider's stock valued at $4,113,000 after purchasing an additional 103,072 shares during the period. Institutional investors own 80.29% of the company's stock.

AxoGen Trading Up 3.3%

NASDAQ:AXGN opened at $46.19 on Wednesday. AxoGen, Inc. has a 52 week low of $10.58 and a 52 week high of $46.26. The firm has a 50 day moving average of $41.81 and a 200 day moving average of $35.85. The company has a quick ratio of 5.33, a current ratio of 7.10 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -72.17 and a beta of 1.12.

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 (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). The firm had revenue of $61.46 million during the quarter, compared to analysts' expectations of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. As a group, sell-side analysts anticipate that AxoGen, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at AxoGen

In related news, Director Kathy Johnson Weiler sold 16,344 shares of the business's stock in a transaction 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 transaction, the director directly owned 16,344 shares in the company, valued at $720,606.96. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amy Mcbride Wendell sold 1,647 shares of the 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 completion of the sale, the director owned 93,826 shares of the company's stock, valued at approximately $3,996,987.60. This trade represents a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,041 shares of company stock valued at $1,268,792 in the last quarter. 2.44% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Zacks Research raised shares of AxoGen from a "strong sell" rating to a "hold" rating in a research report on Friday, May 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of AxoGen in a report on Friday, May 29th. Citigroup reissued an "outperform" rating on shares of AxoGen in a research note on Wednesday, April 29th. HC Wainwright upped their target price on AxoGen from $39.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Citizens Jmp increased their target price on AxoGen from $42.00 to $50.00 and gave the company a "market outperform" rating in a research 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. According to data from MarketBeat, AxoGen has an average rating of "Moderate Buy" and an average price target of $46.50.

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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