AxoGen, Inc. $AXGN Shares Bought by HighMark Wealth Management LLC

HighMark Wealth Management LLC raised its position in AxoGen, Inc. (NASDAQ:AXGN) by 88.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,085 shares of the medical equipment provider’s stock after purchasing an additional 87,000 shares during the quarter. AxoGen accounts for approximately 1.5% of HighMark Wealth Management LLC’s portfolio, making the stock its 13th largest holding. HighMark Wealth Management LLC owned about 0.40% of AxoGen worth $3,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC increased its position in AxoGen by 6.5% during the 1st quarter. Hsbc Holdings PLC now owns 24,174 shares of the medical equipment provider’s stock worth $432,000 after purchasing an additional 1,468 shares in the last quarter. Trexquant Investment LP lifted its position in AxoGen by 827.7% during the first quarter. Trexquant Investment LP now owns 183,495 shares of the medical equipment provider’s stock valued at $3,395,000 after buying an additional 163,715 shares in the last quarter. Royal Bank of Canada grew its stake in AxoGen by 14.2% during the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after buying an additional 4,723 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of AxoGen by 166.6% in the first quarter. Cubist Systematic Strategies LLC now owns 112,436 shares of the medical equipment provider’s stock worth $2,080,000 after acquiring an additional 70,268 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of AxoGen by 45.3% in the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock worth $442,000 after acquiring an additional 7,453 shares in the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho began coverage on shares of AxoGen in a research report on Monday, December 1st. They set an “outperform” rating and a $40.00 price target for the company. Canaccord Genuity Group boosted their price objective on AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. HC Wainwright upped their target price on AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Raymond James Financial reiterated an “outperform” rating and issued a $36.00 target price on shares of AxoGen in a research note on Thursday, December 4th. Finally, Lake Street Capital raised their target price on AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, AxoGen presently has an average rating of “Moderate Buy” and an average target price of $35.56.

AxoGen Stock Performance

NASDAQ:AXGN opened at $32.73 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64. The firm has a 50-day moving average of $27.28 and a two-hundred day moving average of $18.88. The stock has a market cap of $1.51 billion, a P/E ratio of -654.60 and a beta of 1.06. AxoGen, Inc. has a 1-year low of $9.22 and a 1-year high of $34.24.

AxoGen (NASDAQ:AXGN) last announced its earnings results 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. AxoGen had a negative return on equity of 1.90% and a negative net margin of 0.98%.The business had revenue of $60.08 million for the quarter, compared to analyst estimates of $56.90 million. On average, research analysts expect that AxoGen, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Activity at AxoGen

In related news, CEO Michael D. Dale sold 61,463 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total value of $1,918,260.23. Following the sale, the chief executive officer directly owned 88,537 shares of the company’s stock, valued at $2,763,239.77. This represents a 40.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathy Johnson Weiler sold 46,653 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $29.55, for a total transaction of $1,378,596.15. The SEC filing for this sale provides additional information. Insiders sold 424,123 shares of company stock worth $11,815,016 over the last ninety days. Company insiders own 2.78% of the company’s stock.

AxoGen Company 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.