AxoGen (NASDAQ:AXGN) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of AxoGen (NASDAQ:AXGN) from a buy rating to a hold rating in a report published on Saturday morning.

Other analysts also recently issued research reports about the company. HC Wainwright lifted their price target on AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their price target 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. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a report on Friday, May 29th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $48.00 target price on shares of AxoGen in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.50.

AxoGen Trading Down 0.9%

AxoGen stock opened at $39.48 on Friday. The stock has a market cap of $2.10 billion, a P/E ratio of -61.69 and a beta of 1.09. AxoGen has a fifty-two week low of $11.27 and a fifty-two week high of $46.95. The firm’s fifty day moving average price is $42.26 and its 200-day moving average price is $36.88. 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 (NASDAQ:AXGN) last issued its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (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 during the quarter, compared to analysts’ expectations of $57.85 million. Equities research analysts forecast that AxoGen will post -0.37 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kathy Johnson Weiler sold 16,344 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total transaction of $720,606.96. Following the transaction, the director directly owned 16,344 shares in the company, valued at $720,606.96. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Mcbride Wendell sold 1,647 shares of AxoGen stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $42.60, for a total value of $70,162.20. Following the completion of the transaction, the director directly owned 93,826 shares in the company, valued at $3,996,987.60. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 29,041 shares of company stock valued at $1,268,792. Insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AXGN. Commonwealth Equity Services LLC raised its holdings in AxoGen by 1.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock worth $703,000 after purchasing an additional 371 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of AxoGen by 6.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider’s stock valued at $296,000 after purchasing an additional 525 shares in the last quarter. Arax Advisory Partners increased its position in shares of AxoGen by 362.4% during the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 819 shares during the period. Brooklyn Investment Group increased its position in shares of AxoGen by 4.2% during the fourth quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock valued at $688,000 after buying an additional 823 shares during the period. Finally, MCF Advisors LLC bought a new position in AxoGen in the fourth quarter worth about $30,000. Institutional investors own 80.29% of the company’s stock.

About AxoGen

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.