Stephens Investment Management Group LLC Acquires New Stake in AxoGen, Inc. $AXGN

Key Points

• Stephens Investment Management Group disclosed a new stake in AxoGen during the fourth quarter, buying 154,085 shares valued at about $5.0 million.
• Wall Street sentiment on AxoGen is mixed but generally positive: several firms raised price targets to $50, while some analysts downgraded the stock. The consensus rating is Moderate Buy with an average price target of $46.50.
• AxoGen’s latest quarterly results showed EPS of $0.07, missing estimates, even though revenue of $61.46 million topped expectations. The stock was trading near $40.99, close to its 52-week high of $45.83.

Stephens Investment Management Group LLC bought a new position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 154,085 shares of the medical equipment provider's stock, valued at approximately $5,043,000. Stephens Investment Management Group LLC owned approximately 0.33% of AxoGen at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. First Light Asset Management LLC increased its stake in AxoGen by 28.2% during the third quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider's stock worth $103,574,000 after purchasing an additional 1,276,487 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of AxoGen by 183.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider's stock worth $20,953,000 after purchasing an additional 1,250,968 shares in the last quarter. Bessemer Group Inc. purchased a new position in shares of AxoGen in the third quarter valued at approximately $14,468,000. Wasatch Advisors LP grew its holdings in shares of AxoGen by 85.1% in the second quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider's stock valued at $15,557,000 after purchasing an additional 659,149 shares in the last quarter. Finally, Brown Capital Management LLC acquired a new position in shares of AxoGen in the third quarter valued at approximately $11,500,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AXGN has been the topic of a number of research reports. Canaccord Genuity Group increased their target price on shares of AxoGen from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of AxoGen from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Citizens Jmp upped their price objective on AxoGen from $42.00 to $50.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 29th. Lake Street Capital increased their price objective on AxoGen from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Finally, Zacks Research lowered AxoGen from a "hold" rating to a "strong sell" rating in a report on Monday, April 27th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $46.50.

Insiders Place Their Bets

In other AxoGen news, insider Erick Wayne Devinney sold 5,221 shares of AxoGen stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $32.84, for a total transaction of $171,457.64. Following the completion of the sale, the insider directly owned 262,781 shares of the company's stock, valued at $8,629,728.04. The trade was a 1.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Amy Mcbride Wendell sold 1,647 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $42.60, for a total value of $70,162.20. Following the transaction, the director directly owned 93,826 shares of the company's stock, valued at approximately $3,996,987.60. This represents a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 34,262 shares of company stock worth $1,440,250. 2.44% of the stock is owned by corporate insiders.

AxoGen Price Performance

Shares of AxoGen stock opened at $40.99 on Monday. The company has a quick ratio of 5.33, a current ratio of 7.10 and a debt-to-equity ratio of 0.08. AxoGen, Inc. has a 52-week low of $9.22 and a 52-week high of $45.83. The company has a market capitalization of $2.18 billion, a P/E ratio of -64.05 and a beta of 1.17. The company has a 50 day moving average of $35.43 and a 200 day moving average of $32.14.

AxoGen (NASDAQ:AXGN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $57.85 million. As a group, research analysts forecast that AxoGen, Inc. will post -0.3 EPS for the current fiscal year.

AxoGen Company 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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