AxoGen, Inc. $AXGN Shares Purchased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lifted its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 21.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 110,420 shares of the medical equipment provider’s stock after purchasing an additional 19,855 shares during the period. Lisanti Capital Growth LLC owned 0.18% of AxoGen worth $4,629,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of AxoGen in the second quarter valued at $204,123,000. Bamco Inc. NY acquired a new position in AxoGen during the second quarter worth $34,190,000. TimesSquare Capital Management LLC bought a new stake in AxoGen during the second quarter worth $31,863,000. Deutsche Bank AG bought a new stake in AxoGen during the second quarter worth $30,106,000. Finally, Wellington Management Group LLP raised its position in AxoGen by 44.3% during the second quarter. Wellington Management Group LLP now owns 1,391,654 shares of the medical equipment provider’s stock worth $64,280,000 after acquiring an additional 427,089 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

AxoGen Stock Up 15.2%

AXGN stock opened at $58.63 on Thursday. The company has a current ratio of 12.02, a quick ratio of 10.67 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $3.50 billion, a PE ratio of -90.20 and a beta of 1.21. AxoGen, Inc. has a 1-year low of $23.00 and a 1-year high of $59.72. The business’s 50 day simple moving average is $42.95 and its 200 day simple moving average is $40.23.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. AxoGen had a negative return on equity of 5.35% and a negative net margin of 11.96%. The business had revenue of $75.83 million during the quarter, compared to the consensus estimate of $73.45 million. As a group, research analysts anticipate that AxoGen, Inc. will post -0.36 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays lifted their price objective on shares of AxoGen from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $57.00 target price on shares of AxoGen in a report on Thursday, October 29th. Wells Fargo & Company upped their target price on shares of AxoGen from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, August 26th. Finally, HC Wainwright lifted their price target on AxoGen from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, AxoGen presently has an average rating of “Moderate Buy” and a consensus price target of $57.92.

Insider Activity at AxoGen

In other AxoGen news, Director Joseph Tyndall sold 3,500 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $49.70, for a total value of $173,950.00. Following the transaction, the director directly owned 10,650 shares in the company, valued at $529,305. The trade was a 24.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.44% of the stock is currently owned by corporate insiders.

AxoGen Profile

AxoGen, Inc. is a medical technology company focused on repairing peripheral nerve injuries—damage to nerves outside the brain and spinal cord. Its products are used by surgeons in procedures intended to restore nerve function and sensation. The company’s offerings include Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves, and Axoguard products designed to protect, connect or cap nerves during repair. Axogen also provides education and support for healthcare professionals who use its nerve-repair solutions.