AxoGen, Inc. $AXGN Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC trimmed its position in AxoGen, Inc. (NASDAQ:AXGN) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 407,593 shares of the medical equipment provider’s stock after selling 24,250 shares during the period. First Eagle Investment Management LLC’s holdings in AxoGen were worth $13,341,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. First Light Asset Management LLC boosted its holdings in AxoGen by 28.2% in the 3rd quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock worth $103,574,000 after buying an additional 1,276,487 shares during the last quarter. Vanguard Group Inc. boosted its holdings in AxoGen by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock worth $93,934,000 after buying an additional 190,557 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in AxoGen by 20.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,958,406 shares of the medical equipment provider’s stock worth $34,938,000 after buying an additional 332,498 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in AxoGen by 183.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock worth $20,953,000 after buying an additional 1,250,968 shares during the last quarter. Finally, Wasatch Advisors LP boosted its holdings in AxoGen by 14.3% in the 3rd quarter. Wasatch Advisors LP now owns 1,639,351 shares of the medical equipment provider’s stock worth $29,246,000 after buying an additional 205,569 shares during the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AXGN shares. Raymond James Financial reiterated an “outperform” rating and issued a $48.00 price objective on shares of AxoGen in a report on Wednesday, April 29th. Wells Fargo & Company lifted their price objective on AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Zacks Research cut AxoGen from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. HC Wainwright lifted their price objective on AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Lake Street Capital lifted their price objective on AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Nine research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, AxoGen currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

AxoGen Trading Up 0.3%

AXGN opened at $40.93 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33. The company’s 50 day simple moving average is $34.78 and its two-hundred day simple moving average is $31.66. AxoGen, Inc. has a 1-year low of $9.22 and a 1-year high of $45.83. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -63.95 and a beta of 1.17.

AxoGen (NASDAQ:AXGN) last released its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $61.46 million during the quarter, compared to analysts’ expectations of $57.85 million. Analysts expect that AxoGen, Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other AxoGen news, Director John Johnson sold 11,050 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total transaction of $478,023.00. Following the completion of the sale, the director owned 11,050 shares of the company’s stock, valued at $478,023. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathy Johnson Weiler sold 16,344 shares of the business’s 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 completion of the sale, the director directly owned 16,344 shares in the company, valued at approximately $720,606.96. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 34,262 shares of company stock worth $1,440,250 in the last three months. 2.44% of the stock is owned by insiders.

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.