Bessemer Group Inc. Purchases Shares of 810,951 AxoGen, Inc. $AXGN

Bessemer Group Inc. bought a new position in shares of AxoGen, Inc. (NASDAQ:AXGN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 810,951 shares of the medical equipment provider’s stock, valued at approximately $14,468,000. Bessemer Group Inc. owned approximately 1.76% of AxoGen as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of AXGN. HighMark Wealth Management LLC grew its stake in shares of AxoGen by 88.7% during the third quarter. HighMark Wealth Management LLC now owns 185,085 shares of the medical equipment provider’s stock valued at $3,302,000 after acquiring an additional 87,000 shares in the last quarter. Brown Capital Management LLC purchased a new position in AxoGen in the third quarter valued at about $11,500,000. Acadian Asset Management LLC boosted its holdings in AxoGen by 53.3% in the second quarter. Acadian Asset Management LLC now owns 347,726 shares of the medical equipment provider’s stock valued at $3,772,000 after purchasing an additional 120,914 shares during the last quarter. Legal & General Group Plc grew its stake in AxoGen by 81.3% during the 2nd quarter. Legal & General Group Plc now owns 185,481 shares of the medical equipment provider’s stock valued at $2,012,000 after purchasing an additional 83,175 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in AxoGen by 26.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,072 shares of the medical equipment provider’s stock worth $22,997,000 after purchasing an additional 265,950 shares during the last quarter. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Trading Up 3.0%

AxoGen stock opened at $34.93 on Friday. AxoGen, Inc. has a 1 year low of $9.22 and a 1 year high of $36.00. The firm’s 50-day moving average is $32.13 and its 200-day moving average is $22.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.64 and a current ratio of 4.09. The company has a market cap of $1.61 billion, a P/E ratio of -698.60 and a beta of 1.00.

Analysts Set New Price Targets

Several equities analysts have recently commented on AXGN shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of AxoGen in a research note on Monday, December 29th. Mizuho assumed coverage on shares of AxoGen in a report on Monday, December 1st. They issued an “outperform” rating and a $40.00 price target on the stock. JMP Securities set a $34.00 price objective on shares of AxoGen in a report on Thursday, October 30th. HC Wainwright boosted their target price on shares of AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Finally, Lake Street Capital increased their price target on shares of AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, AxoGen currently has a consensus rating of “Moderate Buy” and an average target price of $35.56.

Insiders Place Their Bets

In related news, Director Paul Thomas sold 21,399 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $29.61, for a total transaction of $633,624.39. Following the completion of the transaction, the director directly owned 13,528 shares in the company, valued at $400,564.08. This represents a 61.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy Mcbride Wendell sold 43,684 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $29.31, for a total transaction of $1,280,378.04. Following the transaction, the director directly owned 93,826 shares of the company’s stock, valued at approximately $2,750,040.06. This trade represents a 31.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 324,498 shares of company stock worth $9,721,948. 2.78% of the stock is currently owned by insiders.

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.