Swiss National Bank grew its stake in shares of AxoGen, Inc (NASDAQ:AXGN) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,600 shares of the medical equipment provider’s stock after purchasing an additional 4,400 shares during the quarter. Swiss National Bank owned approximately 0.15% of AxoGen worth $2,086,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in AXGN. Marshall Wace LLP acquired a new stake in AxoGen during the second quarter worth approximately $58,740,000. Eagle Asset Management Inc. increased its holdings in shares of AxoGen by 237.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 906,339 shares of the medical equipment provider’s stock valued at $45,543,000 after acquiring an additional 638,019 shares during the period. Carillon Tower Advisers Inc. acquired a new position in shares of AxoGen in the 2nd quarter valued at $31,927,000. BlackRock Inc. increased its holdings in shares of AxoGen by 18.3% in the 2nd quarter. BlackRock Inc. now owns 2,437,319 shares of the medical equipment provider’s stock valued at $122,476,000 after acquiring an additional 377,275 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of AxoGen by 3,408.0% in the 2nd quarter. Jennison Associates LLC now owns 375,636 shares of the medical equipment provider’s stock valued at $18,876,000 after acquiring an additional 364,928 shares during the period. 88.59% of the stock is currently owned by institutional investors.
In related news, General Counsel Gregory Gene Freitag sold 20,000 shares of AxoGen stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $32.25, for a total value of $645,000.00. Following the transaction, the general counsel now directly owns 140,865 shares in the company, valued at approximately $4,542,896.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Karen L. Zaderej sold 25,000 shares of AxoGen stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $33.18, for a total transaction of $829,500.00. Following the completion of the transaction, the chief executive officer now owns 394,970 shares in the company, valued at $13,105,104.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,000 shares of company stock worth $2,959,500. 7.86% of the stock is currently owned by insiders.
Shares of AxoGen stock opened at $31.78 on Wednesday. The firm has a market capitalization of $1.28 billion, a PE ratio of -102.52 and a beta of -0.24. AxoGen, Inc has a 12 month low of $23.60 and a 12 month high of $56.85.
AxoGen (NASDAQ:AXGN) last announced its earnings results on Monday, October 29th. The medical equipment provider reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $22.66 million for the quarter, compared to analysts’ expectations of $22.52 million. AxoGen had a negative net margin of 25.39% and a negative return on equity of 18.17%. The company’s quarterly revenue was up 41.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) EPS. Analysts predict that AxoGen, Inc will post -0.58 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the stock. BidaskClub raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Wednesday. Cantor Fitzgerald cut their target price on shares of AxoGen from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, October 30th. BTIG Research assumed coverage on shares of AxoGen in a report on Wednesday, November 14th. They issued a “neutral” rating on the stock. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $55.00 target price on shares of AxoGen in a report on Tuesday, October 30th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $44.80.
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AxoGen Company Profile
AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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