Ameriprise Financial Inc. Buys New Stake in AxoGen, Inc. (AXGN)
Ameriprise Financial Inc. bought a new stake in shares of AxoGen, Inc. (NASDAQ:AXGN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 84,244 shares of the medical equipment provider’s stock, valued at approximately $1,412,000. Ameriprise Financial Inc. owned approximately 0.25% of AxoGen at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Thompson Davis & CO. Inc. boosted its position in shares of AxoGen by 575.0% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the medical equipment provider’s stock valued at $113,000 after purchasing an additional 5,750 shares in the last quarter. Alliancebernstein L.P. acquired a new position in AxoGen during the 2nd quarter worth approximately $317,000. Wells Fargo & Company MN raised its stake in AxoGen by 17.2% during the 2nd quarter. Wells Fargo & Company MN now owns 46,745 shares of the medical equipment provider’s stock worth $783,000 after buying an additional 6,848 shares during the period. Bradley Foster & Sargent Inc. CT raised its stake in AxoGen by 536.6% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 78,905 shares of the medical equipment provider’s stock worth $1,322,000 after buying an additional 66,510 shares during the period. Finally, Neuberger Berman Group LLC acquired a new position in AxoGen during the 2nd quarter worth approximately $201,000. Institutional investors own 66.22% of the company’s stock.
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A number of research analysts recently weighed in on AXGN shares. BidaskClub downgraded AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Roth Capital reaffirmed a “buy” rating and set a $21.00 price target (up from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $18.00 price target on shares of AxoGen in a research note on Monday, August 21st. Finally, Leerink Swann upped their price target on AxoGen from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $18.00.
AxoGen, Inc. (AXGN) opened at $24.55 on Monday. AxoGen, Inc. has a 52 week low of $7.65 and a 52 week high of $24.90. The company has a debt-to-equity ratio of 1.93, a current ratio of 3.55 and a quick ratio of 2.95.
AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $16.05 million for the quarter, compared to the consensus estimate of $15.55 million. AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. AxoGen’s revenue for the quarter was up 43.2% on a year-over-year basis. sell-side analysts predict that AxoGen, Inc. will post -0.32 earnings per share for the current year.
In other news, Director Robert James Rudelius sold 16,143 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $18.00, for a total value of $290,574.00. Following the completion of the sale, the director now directly owns 43,273 shares of the company’s stock, valued at $778,914. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 9.33% of the company’s stock.
AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair 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 injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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