WCM Investment Management LLC Acquires 158,914 Shares of AxoGen, Inc. $AXGN

Key Points

• WCM Investment Management boosted its AxoGen position by 39.7% in the first quarter, buying 158,914 shares and bringing its total stake to 559,530 shares worth about $17.5 million.
• Several Wall Street firms remain constructive on AxoGen, with multiple analysts raising price targets to as high as $50; the stock now carries a consensus rating of Moderate Buy and an average target of $46.50.
• AxoGen reported quarterly EPS of $0.07, missing estimates, even as revenue came in above expectations at $61.46 million. The stock was trading at $39.85 and insiders have been selling shares recently.

WCM Investment Management LLC increased its holdings in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 39.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 559,530 shares of the medical equipment provider's stock after buying an additional 158,914 shares during the quarter. WCM Investment Management LLC owned 1.05% of AxoGen worth $17,524,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AXGN. MCF Advisors LLC purchased a new stake in AxoGen during the fourth quarter valued at approximately $30,000. Aquatic Capital Management LLC boosted its stake in shares of AxoGen by 287.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider's stock worth $31,000 after acquiring an additional 1,269 shares during the last quarter. Arax Advisory Partners grew its position in shares of AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider's stock valued at $34,000 after acquiring an additional 819 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of AxoGen during the 4th quarter valued at $36,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of AxoGen in the 4th quarter worth $39,000. 80.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AXGN has been the topic of a number of recent research reports. Citigroup reaffirmed an "outperform" rating on shares of AxoGen in a report on Wednesday, April 29th. HC Wainwright boosted their price target on AxoGen from $39.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Lake Street Capital upped their price target on AxoGen from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Wells Fargo & Company raised their price objective on AxoGen from $40.00 to $48.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen cut AxoGen from a "buy" rating to a "hold" rating in a research report on Saturday. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, AxoGen has an average rating of "Moderate Buy" and a consensus price target of $46.50.

AxoGen Price Performance

Shares of AXGN stock opened at $39.85 on Monday. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -62.27 and a beta of 1.09. AxoGen, Inc. has a one year low of $11.25 and a one year high of $46.95. The company's fifty day moving average price is $42.29 and its 200-day moving average price is $36.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33.

AxoGen (NASDAQ:AXGN - Get Free Report) last issued its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.05). AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%.The firm had revenue of $61.46 million during the quarter, compared to the consensus estimate of $57.85 million. Sell-side analysts expect that AxoGen, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity

In other news, 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 completion of the transaction, the director owned 93,826 shares of the company's stock, valued at $3,996,987.60. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kathy Johnson Weiler sold 16,344 shares of AxoGen stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $44.09, for a total value of $720,606.96. Following the sale, the director directly owned 16,344 shares in the company, valued at $720,606.96. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,041 shares of company stock worth $1,268,792 over the last ninety days. Corporate 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.

Want to see what other hedge funds are holding AXGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AxoGen, Inc. (NASDAQ:AXGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.