Joseph Tyndall Sells 3,500 Shares of AxoGen (NASDAQ:AXGN) Stock

AxoGen, Inc. (NASDAQ:AXGN) Director Joseph Tyndall sold 3,500 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $49.70, for a total value of $173,950.00. Following the transaction, the director owned 10,650 shares of the company’s stock, valued at approximately $529,305. This represents a 24.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Stock Performance

Shares of AXGN stock opened at $48.28 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60. The firm has a market cap of $2.60 billion, a P/E ratio of -71.00 and a beta of 1.16. The firm’s 50 day moving average price is $45.21 and its 200-day moving average price is $40.05. AxoGen, Inc. has a one year low of $15.27 and a one year high of $52.91.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. The company had revenue of $69.73 million during the quarter, compared to analysts’ expectations of $67.10 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. As a group, equities research analysts predict that AxoGen, Inc. will post -0.45 EPS for the current year.

Analyst Upgrades and Downgrades

AXGN has been the topic of several analyst reports. HC Wainwright increased their price objective on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Citizens Jmp upped their price target on AxoGen from $50.00 to $55.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Zacks Research raised AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. Finally, Citigroup reiterated a “market outperform” rating on shares of AxoGen in a research note on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

Hedge Funds Weigh In On AxoGen

Several hedge funds have recently made changes to their positions in AXGN. Royal Bank of Canada raised its holdings in shares of AxoGen by 14.2% in the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after buying an additional 4,723 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of AxoGen by 45.3% during the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock worth $442,000 after buying an additional 7,453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in AxoGen by 4.4% in 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 increased its position in AxoGen by 104,810.0% in 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. increased its position in AxoGen by 37.3% in 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. Hedge funds and other 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.