Sei Investments Co. Acquires 19,886 Shares of AxoGen, Inc. $AXGN

Sei Investments Co. increased its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 38.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,808 shares of the medical equipment provider’s stock after buying an additional 19,886 shares during the period. Sei Investments Co. owned 0.14% of AxoGen worth $2,379,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MCF Advisors LLC bought a new position in shares of AxoGen in the fourth quarter worth about $30,000. Aquatic Capital Management LLC grew its stake in shares of AxoGen by 287.8% during the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 1,269 shares during the last quarter. Arax Advisory Partners grew its stake in shares of AxoGen by 362.4% during the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 819 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of AxoGen during the fourth quarter valued at approximately $36,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of AxoGen in the fourth quarter valued at approximately $39,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Price Performance

Shares of AXGN stock opened at $46.43 on Friday. The firm’s 50 day moving average price is $42.64 and its two-hundred day moving average price is $37.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60. AxoGen, Inc. has a 52-week low of $13.64 and a 52-week high of $46.95. The stock has a market cap of $2.50 billion, a PE ratio of -68.28 and a beta of 1.11.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $69.73 million during the quarter, compared to analysts’ expectations of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. As a group, analysts forecast that AxoGen, Inc. will post -0.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Zacks Research raised AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 target price on shares of AxoGen in a research note on Wednesday, July 29th. Wall Street Zen upgraded AxoGen from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a research note on Friday, May 29th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $48.00 price target on shares of AxoGen in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

About AxoGen

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.