Wells Fargo & Company MN raised its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 1,148.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 432,516 shares of the medical equipment provider’s stock after acquiring an additional 397,870 shares during the quarter. Wells Fargo & Company MN’s holdings in AxoGen were worth $12,240,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its position in shares of AxoGen by 19.6% in the 2nd quarter. State Street Corp now owns 438,641 shares of the medical equipment provider’s stock worth $7,350,000 after purchasing an additional 71,752 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of AxoGen by 6.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,616 shares of the medical equipment provider’s stock worth $395,000 after purchasing an additional 1,335 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of AxoGen by 293.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 631,563 shares of the medical equipment provider’s stock worth $12,222,000 after purchasing an additional 471,209 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of AxoGen by 1,718.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 38,546 shares of the medical equipment provider’s stock worth $746,000 after purchasing an additional 36,426 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of AxoGen in the 3rd quarter worth $590,000. 67.97% of the stock is currently owned by institutional investors and hedge funds.
In other AxoGen news, CFO Jamie Mark Grooms sold 10,300 shares of AxoGen stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $26.21, for a total transaction of $269,963.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 169,407 shares of company stock valued at $4,593,013. 9.33% of the stock is currently owned by insiders.
Shares of AxoGen stock opened at $37.65 on Monday. AxoGen, Inc. has a 52-week low of $9.90 and a 52-week high of $37.70. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.53 and a current ratio of 4.07. The company has a market capitalization of $1,298.81, a PE ratio of -125.50 and a beta of 0.10.
AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, February 28th. The medical equipment provider reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.02. AxoGen had a negative return on equity of 70.63% and a negative net margin of 17.29%. The company had revenue of $16.97 million during the quarter, compared to analysts’ expectations of $16.38 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The firm’s revenue was up 48.7% compared to the same quarter last year. equities analysts forecast that AxoGen, Inc. will post -0.28 earnings per share for the current year.
A number of research firms have recently weighed in on AXGN. Lake Street Capital set a $38.00 price objective on AxoGen and gave the stock a “buy” rating in a research report on Friday, March 2nd. JMP Securities raised their price objective on AxoGen from $27.00 to $34.00 and gave the stock a “market outperform” rating in a research report on Thursday, March 1st. BidaskClub raised AxoGen from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 23rd. William Blair began coverage on AxoGen in a research report on Monday, February 5th. They issued an “outperform” rating for the company. Finally, Cantor Fitzgerald set a $37.00 price objective on AxoGen and gave the stock a “buy” rating in a research report on Monday, January 8th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $31.71.
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AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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