AxoGen (NASDAQ:AXGN) Director Sells $720,606.96 in Stock

AxoGen, Inc. (NASDAQ:AXGN) Director Kathy Johnson Weiler sold 16,344 shares of AxoGen stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $44.09, for a total transaction of $720,606.96. Following the sale, the director directly owned 16,344 shares of the company’s stock, valued at $720,606.96. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

AxoGen Stock Performance

AxoGen stock opened at $42.06 on Monday. The company has a 50 day moving average price of $34.20 and a 200-day moving average price of $31.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10. AxoGen, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $45.83. The company has a market capitalization of $2.24 billion, a PE ratio of -65.72 and a beta of 1.17.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.05). AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. The company had revenue of $61.46 million for the quarter, compared to the consensus estimate of $57.85 million. As a group, equities analysts forecast that AxoGen, Inc. will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On AxoGen

Several institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in 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 worth $296,000 after purchasing an additional 525 shares during the last quarter. WCM Investment Management LLC grew its holdings in AxoGen by 39.7% in the first quarter. WCM Investment Management LLC now owns 559,530 shares of the medical equipment provider’s stock worth $17,524,000 after purchasing an additional 158,914 shares during the last quarter. KBC Group NV purchased a new position in AxoGen in the first quarter worth $41,000. Bessemer Group Inc. grew its holdings in AxoGen by 41.9% in the first quarter. Bessemer Group Inc. now owns 660,553 shares of the medical equipment provider’s stock worth $21,885,000 after purchasing an additional 194,949 shares during the last quarter. Finally, Westover Capital Advisors LLC grew its holdings in AxoGen by 48.8% in the first quarter. Westover Capital Advisors LLC now owns 22,716 shares of the medical equipment provider’s stock worth $753,000 after purchasing an additional 7,447 shares during the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AXGN shares. Raymond James Financial reissued an “outperform” rating and issued a $48.00 price objective on shares of AxoGen in a research note on Wednesday, April 29th. Lake Street Capital boosted their price objective 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. HC Wainwright boosted their price objective on shares of AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wells Fargo & Company boosted their price objective on shares of AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, Citigroup reissued an “outperform” rating on shares of AxoGen in a research note on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

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.