Hsbc Holdings PLC Purchases Shares of 31,009 AxoGen, Inc. $AXGN

Key Points

• HSBC Holdings initiated a position in AxoGen by purchasing 31,009 shares valued at approximately $1.4 million. Institutional investors collectively own 80.29% of the company, with BlackRock and other funds also significantly increasing or initiating holdings.
• AxoGen reported quarterly earnings of $0.12 per share, matching estimates, while revenue of $69.73 million exceeded expectations. The company remains unprofitable, with analysts forecasting a full-year loss of $0.45 per share.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $51.56. However, insiders sold 95,003 shares worth approximately $4.48 million over the past 90 days.

Hsbc Holdings PLC acquired a new position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,009 shares of the medical equipment provider's stock, valued at approximately $1,397,000. Hsbc Holdings PLC owned approximately 0.06% of AxoGen as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AXGN. BlackRock Inc. purchased a new stake in shares of AxoGen during the second quarter valued at approximately $204,123,000. Balyasny Asset Management L.P. boosted its stake 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 valued at $20,953,000 after purchasing an additional 1,250,968 shares during the period. Wasatch Advisors LP boosted its stake in shares of AxoGen by 101.1% in the first quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider's stock valued at $61,534,000 after purchasing an additional 933,778 shares during the period. Millennium Management LLC grew its holdings in AxoGen by 2,255.8% during the 4th quarter. Millennium Management LLC now owns 971,358 shares of the medical equipment provider's stock valued at $31,793,000 after purchasing an additional 930,126 shares in the last quarter. Finally, Next Century Growth Investors LLC acquired a new stake in AxoGen during the 4th quarter valued at $26,180,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

AxoGen Stock Performance

Shares of AXGN opened at $50.76 on Tuesday. AxoGen, Inc. has a 1 year low of $15.24 and a 1 year high of $52.91. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -74.65 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60. The firm has a fifty day moving average of $44.87 and a 200-day moving average of $39.67.

AxoGen (NASDAQ:AXGN - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, hitting analysts' consensus estimates of $0.12. The business had revenue of $69.73 million for the quarter, compared to analysts' expectations of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. As a group, equities analysts anticipate that AxoGen, Inc. will post -0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AXGN. HC Wainwright boosted their price objective on shares of AxoGen from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Weiss Ratings restated a "sell (d-)" rating on shares of AxoGen in a research note on Wednesday, August 26th. Canaccord Genuity Group lifted their target price on AxoGen from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Zacks Research raised AxoGen from a "strong sell" rating to a "hold" rating in a research report on Friday, May 29th. Finally, Citizens Jmp boosted their price target on AxoGen from $50.00 to $55.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.56.

Insiders Place Their Bets

In other AxoGen news, EVP Marc A. Began sold 67,500 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $47.34, for a total value of $3,195,450.00. Following the sale, the executive vice president owned 50,135 shares in the company, valued at approximately $2,373,390.90. This trade represents a 57.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Johnson Weiler sold 14,150 shares of AxoGen stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $45.30, for a total value of $640,995.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 95,003 shares of company stock worth $4,482,997. 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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