AxoGen, Inc (NASDAQ:AXGN) Director Quentin S. Blackford bought 1,365 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of $13.10 per share, for a total transaction of $17,881.50. Following the completion of the transaction, the director now directly owns 25,098 shares in the company, valued at approximately $328,783.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
NASDAQ:AXGN opened at $14.85 on Thursday. The firm has a market cap of $573.52 million, a P/E ratio of -27.50 and a beta of 0.18. The company has a quick ratio of 7.87, a current ratio of 8.70 and a debt-to-equity ratio of 0.02. AxoGen, Inc has a 52-week low of $11.82 and a 52-week high of $46.25. The stock’s fifty day moving average price is $18.24.
AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.09. The business had revenue of $26.70 million during the quarter, compared to the consensus estimate of $26.77 million. AxoGen had a negative return on equity of 16.73% and a negative net margin of 26.91%. The business’s revenue was up 29.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) EPS. On average, equities analysts forecast that AxoGen, Inc will post -0.72 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in AxoGen by 8.5% in the 2nd quarter. BlackRock Inc. now owns 2,674,036 shares of the medical equipment provider’s stock valued at $52,947,000 after purchasing an additional 208,805 shares during the last quarter. Vanguard Group Inc. raised its stake in AxoGen by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,768,572 shares of the medical equipment provider’s stock valued at $35,018,000 after purchasing an additional 93,873 shares during the last quarter. Bank of New York Mellon Corp raised its stake in AxoGen by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,104,983 shares of the medical equipment provider’s stock valued at $21,878,000 after purchasing an additional 27,616 shares during the last quarter. Baillie Gifford & Co. raised its stake in AxoGen by 54.0% in the 1st quarter. Baillie Gifford & Co. now owns 980,700 shares of the medical equipment provider’s stock valued at $20,654,000 after purchasing an additional 343,900 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in AxoGen by 25.8% in the 2nd quarter. Bank of America Corp DE now owns 763,705 shares of the medical equipment provider’s stock valued at $15,122,000 after purchasing an additional 156,476 shares during the last quarter. 87.46% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Cantor Fitzgerald cut their price target on AxoGen from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. William Blair downgraded AxoGen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. ValuEngine raised AxoGen from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. BidaskClub downgraded AxoGen from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 24th. Finally, JMP Securities cut their price target on AxoGen from $43.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. AxoGen presently has a consensus rating of “Buy” and an average price target of $31.00.
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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