Westover Capital Advisors LLC Acquires Shares of 15,269 AxoGen, Inc. $AXGN

Westover Capital Advisors LLC acquired a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the fourth quarter, HoldingsChannel reports. The fund acquired 15,269 shares of the medical equipment provider’s stock, valued at approximately $500,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of AxoGen by 14.2% during the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after acquiring an additional 4,723 shares during the period. AQR Capital Management LLC lifted its position in shares of AxoGen by 45.3% during the 1st quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after acquiring an additional 7,453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of AxoGen by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after acquiring an additional 1,057 shares during the period. Jones Financial Companies Lllp lifted its position in shares of AxoGen by 104,810.0% during the 1st quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock valued at $194,000 after acquiring an additional 10,481 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of AxoGen by 37.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock valued at $4,113,000 after acquiring an additional 103,072 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John Johnson sold 11,050 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total transaction of $478,023.00. Following the completion of the transaction, the director owned 11,050 shares of the company’s stock, valued at approximately $478,023. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathy Johnson Weiler sold 16,344 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total value of $720,606.96. Following the transaction, the director directly owned 16,344 shares of the company’s stock, valued at $720,606.96. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,262 shares of company stock worth $1,440,250 over the last 90 days. Corporate insiders own 2.44% of the company’s stock.

AxoGen Price Performance

AxoGen stock opened at $40.90 on Monday. 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 52 week low of $9.22 and a 52 week high of $45.83. The stock has a market capitalization of $2.18 billion, a P/E ratio of -63.91 and a beta of 1.17. The stock has a fifty day moving average of $36.62 and a 200-day moving average of $32.85.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%.The business had revenue of $61.46 million for the quarter, compared to analyst estimates of $57.85 million. On average, sell-side analysts expect that AxoGen, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AXGN shares. Zacks Research downgraded AxoGen from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Wall Street Zen upgraded AxoGen from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup reiterated an “outperform” rating on shares of AxoGen in a research report on Wednesday, April 29th. HC Wainwright upped their target price on AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Lake Street Capital upped their target price on AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Nine investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.50.

AxoGen 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.