Raymond James Financial Inc. Takes $4.55 Million Position in AxoGen, Inc. (NASDAQ:AXGN)

Raymond James Financial Inc. bought a new position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 276,200 shares of the medical equipment provider's stock, valued at approximately $4,552,000. Raymond James Financial Inc. owned 0.63% of AxoGen as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of AxoGen by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider's stock worth $14,170,000 after purchasing an additional 31,612 shares during the period. JPMorgan Chase & Co. lifted its stake in AxoGen by 2,912.3% in the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider's stock valued at $7,697,000 after buying an additional 530,775 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of AxoGen by 14.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 416,610 shares of the medical equipment provider's stock valued at $6,866,000 after acquiring an additional 52,846 shares during the period. Russell Investments Group Ltd. grew its position in shares of AxoGen by 49,604.4% during the fourth quarter. Russell Investments Group Ltd. now owns 148,119 shares of the medical equipment provider's stock worth $2,441,000 after acquiring an additional 147,821 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of AxoGen by 37.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 97,290 shares of the medical equipment provider's stock worth $1,603,000 after acquiring an additional 26,298 shares during the period. 80.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AxoGen

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the transaction, the director now directly owns 97,899 shares of the company's stock, valued at $1,959,937.98. This trade represents a 4.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the completion of the transaction, the insider now owns 217,762 shares of the company's stock, valued at approximately $3,810,835. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company's stock.

AxoGen Stock Up 5.0 %

NASDAQ AXGN traded up $0.81 on Thursday, reaching $17.08. The stock had a trading volume of 188,970 shares, compared to its average volume of 428,428. The company has a market capitalization of $757.44 million, a price-to-earnings ratio of -53.47 and a beta of 1.00. The business has a 50 day moving average price of $17.30 and a 200 day moving average price of $16.21. AxoGen, Inc. has a 1 year low of $5.55 and a 1 year high of $21.00. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67.

Analyst Ratings Changes

A number of brokerages have issued reports on AXGN. Cantor Fitzgerald reiterated an "overweight" rating and set a $24.00 price target on shares of AxoGen in a research report on Wednesday, March 5th. Canaccord Genuity Group increased their price objective on AxoGen from $22.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, Lake Street Capital assumed coverage on shares of AxoGen in a report on Monday, March 17th. They issued a "buy" rating and a $30.00 target price for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $22.60.

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.