Wasatch Advisors LP Reduces Holdings in AxoGen, Inc. $AXGN

Wasatch Advisors LP lowered its position in AxoGen, Inc. (NASDAQ:AXGN) by 30.2% during the second quarter, HoldingsChannel reports. The firm owned 1,295,949 shares of the medical equipment provider’s stock after selling 561,401 shares during the period. Wasatch Advisors LP’s holdings in AxoGen were worth $59,860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in shares of AxoGen by 1.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock worth $703,000 after buying an additional 371 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of AxoGen by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider’s stock valued at $296,000 after buying an additional 525 shares during the last quarter. Arax Advisory Partners lifted its stake in shares of AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 819 shares in the last quarter. Brooklyn Investment Group lifted its stake in shares of AxoGen by 4.2% in the fourth quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock worth $688,000 after buying an additional 823 shares in the last quarter. Finally, MCF Advisors LLC purchased a new position in shares of AxoGen in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AXGN. Citizens Jmp upped their price objective on shares of AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Lake Street Capital raised their target price on shares of AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Raymond James Financial restated an “outperform” rating and set a $48.00 target price on shares of AxoGen in a report on Wednesday, April 29th. Truist Financial set a $55.00 price target on AxoGen in a research report on Thursday, July 30th. Finally, Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Insider Buying and Selling at AxoGen

In other news, Director Kathy Johnson Weiler sold 14,150 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $45.30, for a total value of $640,995.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.44% of the stock is currently owned by company insiders.

AxoGen Trading Up 0.5%

Shares of AXGN stock opened at $48.48 on Wednesday. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07. AxoGen, Inc. has a twelve month low of $13.64 and a twelve month high of $49.12. The company’s 50-day moving average price is $43.01 and its 200-day moving average price is $38.14. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -71.29 and a beta of 1.11.

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

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.