Parkman Healthcare Partners LLC Buys 171,129 Shares of AxoGen, Inc. $AXGN

Key Points

• Parkman Healthcare Partners LLC increased its stake in AxoGen, Inc. by 46.8% during the first quarter, owning approximately 1.18% of the company after purchasing 171,129 additional shares.
• AxoGen's stock has seen significant movement with a 52-week high of $21.00 and a low of $9.22, currently trading at $15.98.
• Analysts have generally rated AxoGen as a "Buy", with an average price target set at $26.00, highlighting investor optimism despite recent adjustments to price targets.

Parkman Healthcare Partners LLC grew its stake in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 46.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 536,832 shares of the medical equipment provider's stock after buying an additional 171,129 shares during the period. Parkman Healthcare Partners LLC owned approximately 1.18% of AxoGen worth $9,931,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AxoGen by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider's stock valued at $466,000 after acquiring an additional 1,057 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in AxoGen by 148.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 203,901 shares of the medical equipment provider's stock valued at $3,772,000 after acquiring an additional 121,901 shares during the last quarter. AQR Capital Management LLC increased its stake in AxoGen by 45.3% in the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider's stock valued at $442,000 after acquiring an additional 7,453 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in AxoGen by 166.6% in the first quarter. Cubist Systematic Strategies LLC now owns 112,436 shares of the medical equipment provider's stock valued at $2,080,000 after acquiring an additional 70,268 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in 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 during the last quarter. Institutional investors own 80.29% of the company's stock.

AxoGen Trading Up 2.4%

Shares of NASDAQ AXGN traded up $0.38 during mid-day trading on Tuesday, hitting $16.42. The stock had a trading volume of 776,661 shares, compared to its average volume of 1,195,502. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.67 and a current ratio of 4.14. AxoGen, Inc. has a 1 year low of $9.22 and a 1 year high of $21.00. The business has a 50 day moving average price of $13.79 and a two-hundred day moving average price of $14.29. The firm has a market cap of $755.48 million, a P/E ratio of -164.18 and a beta of 1.03.

Analyst Upgrades and Downgrades

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

About AxoGen

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.