AxoGen (NASDAQ:AXGN) Director Sells $1,378,596.15 in Stock

by · The Markets Daily

AxoGen, Inc. (NASDAQ:AXGN – Get Free Report) Director Kathy Johnson Weiler sold 46,653 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $29.55, for a total value of $1,378,596.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AxoGen Stock Performance

Shares of NASDAQ:AXGN traded up $2.04 during midday trading on Wednesday, reaching $31.39. The company had a trading volume of 1,363,957 shares, compared to its average volume of 855,567. The company’s 50 day moving average price is $23.80 and its 200 day moving average price is $17.25. The company has a current ratio of 4.09, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.45 billion, a P/E ratio of -627.80 and a beta of 1.06. AxoGen, Inc. has a 52-week low of $9.22 and a 52-week high of $34.24.

AxoGen (NASDAQ:AXGN – Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $60.08 million during the quarter, compared to the consensus estimate of $56.90 million. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.90%. As a group, sell-side analysts anticipate that AxoGen, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AXGN shares. Mizuho began coverage on shares of AxoGen in a report on Monday, December 1st. They issued an “outperform” rating and a $40.00 price target on the stock. Citizens Jmp lifted their target price on shares of AxoGen from $26.00 to $34.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 30th. Lake Street Capital upped their price target on shares of AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Canaccord Genuity Group raised their price objective on shares of AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of AxoGen in a report on Monday. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, AxoGen presently has a consensus rating of “Moderate Buy” and an average target price of $35.56.

View Our Latest Report on AXGN

Hedge Funds Weigh In On AxoGen

Large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in AxoGen by 4.4% during 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 in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of AxoGen by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,194 shares of the medical equipment provider’s stock valued at $176,000 after purchasing an additional 1,079 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of AxoGen by 10.0% in the third quarter. Arizona State Retirement System now owns 12,801 shares of the medical equipment provider’s stock worth $228,000 after purchasing an additional 1,164 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of AxoGen by 11.7% in the third quarter. Mercer Global Advisors Inc. ADV now owns 11,193 shares of the medical equipment provider’s stock worth $200,000 after purchasing an additional 1,173 shares during the period. Finally, Aquatic Capital Management LLC raised its position in shares of AxoGen by 287.8% in the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 1,269 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors.

AxoGen Company Profile

(Get Free Report)

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.

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