Invesco Ltd. Grows Position in AxoGen, Inc. $AXGN

Key Points

• Invesco Ltd. increased its stock position in AxoGen by 2,124.5%, owning 382,429 shares worth approximately $7.08 million at the end of the first quarter.
• A number of institutional investors have also made significant moves with AxoGen, resulting in institutional ownership of 80.29% of the company's stock.
• AxoGen's stock has recently risen by 9.6% and has a consensus rating of "Buy" with an average price target of $26.00.

Invesco Ltd. lifted its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 2,124.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 382,429 shares of the medical equipment provider's stock after acquiring an additional 365,237 shares during the quarter. Invesco Ltd. owned approximately 0.84% of AxoGen worth $7,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of AxoGen by 4.6% during the first quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider's stock valued at $46,964,000 after acquiring an additional 112,679 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of AxoGen by 21.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,001,217 shares of the medical equipment provider's stock valued at $18,523,000 after acquiring an additional 174,681 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of AxoGen by 166.0% during the fourth quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider's stock valued at $15,729,000 after acquiring an additional 595,579 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AxoGen by 13.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider's stock valued at $12,735,000 after acquiring an additional 91,984 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of AxoGen by 2.2% during the fourth quarter. Deutsche Bank AG now owns 594,843 shares of the medical equipment provider's stock valued at $9,803,000 after acquiring an additional 12,604 shares in the last quarter. Institutional investors own 80.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AXGN. Canaccord Genuity Group decreased their price objective on AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Wall Street Zen upgraded AxoGen from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $26.00.

AxoGen Stock Down 0.5%

Shares of NASDAQ AXGN traded down $0.08 during trading on Friday, reaching $16.14. The company had a trading volume of 1,938,656 shares, compared to its average volume of 1,716,937. AxoGen, Inc. has a 12-month low of $9.22 and a 12-month high of $21.00. The stock has a market cap of $742.60 million, a PE ratio of -161.38 and a beta of 1.00. The business's 50-day moving average is $13.02 and its 200 day moving average is $14.43. The company has a quick ratio of 2.67, a current ratio of 4.14 and a debt-to-equity ratio of 0.59.

AxoGen Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.