Raymond James Financial Services Advisors Inc. Boosts Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Raymond James Financial Services Advisors Inc. grew its stake in AxoGen, Inc. (NASDAQ:AXGN) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,260 shares of the medical equipment provider’s stock after buying an additional 11,000 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.21% of AxoGen worth $630,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXGN. Swiss National Bank raised its holdings in shares of AxoGen by 9.6% in the first quarter. Swiss National Bank now owns 93,300 shares of the medical equipment provider’s stock worth $741,000 after buying an additional 8,200 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of AxoGen by 22.5% in the first quarter. JPMorgan Chase & Co. now owns 18,479 shares of the medical equipment provider’s stock worth $146,000 after buying an additional 3,397 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of AxoGen by 55.4% in the first quarter. MetLife Investment Management LLC now owns 23,064 shares of the medical equipment provider’s stock worth $183,000 after buying an additional 8,224 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of AxoGen by 2.1% in the first quarter. Vanguard Group Inc. now owns 1,922,965 shares of the medical equipment provider’s stock worth $15,269,000 after buying an additional 38,968 shares during the last quarter. Finally, SCW Capital Management LP purchased a new position in shares of AxoGen in the first quarter worth $2,170,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Insider Activity at AxoGen

In related news, VP Michael Patrick Donovan sold 36,310 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $8.81, for a total transaction of $319,891.10. Following the sale, the vice president now owns 35,708 shares in the company, valued at $314,587.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Karen L. Zaderej sold 39,280 shares of AxoGen stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $7.68, for a total value of $301,670.40. Following the sale, the chief executive officer now owns 1,124,565 shares in the company, valued at $8,636,659.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michael Patrick Donovan sold 36,310 shares of AxoGen stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $8.81, for a total transaction of $319,891.10. Following the completion of the sale, the vice president now owns 35,708 shares in the company, valued at approximately $314,587.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,201 shares of company stock worth $928,054. 7.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AXGN shares. StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $12.00 price objective on shares of AxoGen in a research note on Friday, January 19th.

AxoGen Stock Down 0.9 %

NASDAQ:AXGN opened at $6.94 on Thursday. The firm has a market capitalization of $303.21 million, a P/E ratio of -13.35 and a beta of 1.03. AxoGen, Inc. has a 1-year low of $3.45 and a 1-year high of $10.83. The company’s fifty day moving average price is $8.74 and its 200-day moving average price is $7.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.89 and a quick ratio of 2.14.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Tuesday, March 5th. The medical equipment provider reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.11. The company had revenue of $42.92 million for the quarter, compared to analyst estimates of $42.70 million. AxoGen had a negative net margin of 13.66% and a negative return on equity of 22.38%. As a group, equities research analysts anticipate that AxoGen, Inc. will post -0.46 EPS for the current year.

About AxoGen

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.