Meeder Asset Management Inc. purchased a new position in AxoGen, Inc. (NASDAQ:AXGN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,386 shares of the medical equipment provider’s stock, valued at approximately $90,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of AXGN. Exchange Traded Concepts LLC raised its position in AxoGen by 38.7% during the first quarter. Exchange Traded Concepts LLC now owns 145,469 shares of the medical equipment provider’s stock valued at $2,947,000 after acquiring an additional 40,600 shares in the last quarter. Calamos Advisors LLC raised its position in AxoGen by 98.0% during the first quarter. Calamos Advisors LLC now owns 145,600 shares of the medical equipment provider’s stock valued at $2,949,000 after acquiring an additional 72,062 shares in the last quarter. Dimensional Fund Advisors LP raised its position in AxoGen by 12.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 324,919 shares of the medical equipment provider’s stock valued at $5,815,000 after acquiring an additional 36,692 shares in the last quarter. Norges Bank bought a new position in AxoGen during the fourth quarter valued at approximately $691,000. Finally, Hsbc Holdings PLC raised its position in AxoGen by 30.0% during the fourth quarter. Hsbc Holdings PLC now owns 14,586 shares of the medical equipment provider’s stock valued at $260,000 after acquiring an additional 3,364 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on AXGN shares. SVB Leerink raised their price objective on shares of AxoGen from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, March 1st. Canaccord Genuity raised their price objective on shares of AxoGen from $21.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $24.50.
AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Tuesday, May 4th. The medical equipment provider reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.12. AxoGen had a negative net margin of 22.98% and a negative return on equity of 19.83%. Research analysts predict that AxoGen, Inc. will post -0.61 EPS for the current fiscal year.
AxoGen, Inc, together with its subsidiaries, develops and markets surgical solutions for physical damage or transection to peripheral nerves. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed 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; and 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.
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