Russell Investments Group Ltd. Decreases Stake in AxoGen, Inc. (AXGN)
Russell Investments Group Ltd. reduced its stake in AxoGen, Inc. (NASDAQ:AXGN) by 17.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,621 shares of the medical equipment provider’s stock after selling 38,737 shares during the period. Russell Investments Group Ltd. owned approximately 0.55% of AxoGen worth $1,887,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in shares of AxoGen by 12.8% in the fourth quarter. State Street Corp now owns 352,735 shares of the medical equipment provider’s stock valued at $3,175,000 after buying an additional 39,963 shares during the last quarter. Menta Capital LLC raised its position in shares of AxoGen by 19.2% in the fourth quarter. Menta Capital LLC now owns 102,538 shares of the medical equipment provider’s stock valued at $923,000 after buying an additional 16,530 shares during the last quarter. Teachers Advisors LLC increased its stake in AxoGen by 25.5% in the fourth quarter. Teachers Advisors LLC now owns 48,740 shares of the medical equipment provider’s stock valued at $439,000 after buying an additional 9,893 shares during the period. AQR Capital Management LLC bought a new stake in AxoGen during the fourth quarter valued at about $180,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in AxoGen by 17.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,903 shares of the medical equipment provider’s stock valued at $179,000 after buying an additional 2,935 shares during the period. 64.93% of the stock is currently owned by institutional investors.
Shares of AxoGen, Inc. (NASDAQ AXGN) opened at 14.75 on Friday. The company’s market cap is $488.15 million. AxoGen, Inc. has a 1-year low of $5.86 and a 1-year high of $16.00. The stock’s 50 day moving average price is $14.12 and its 200 day moving average price is $11.05.
AxoGen (NASDAQ:AXGN) last released its earnings results on Thursday, May 4th. The medical equipment provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $12.24 million during the quarter, compared to analyst estimates of $11.83 million. AxoGen had a negative net margin of 32.05% and a negative return on equity of 155.78%. Equities research analysts forecast that AxoGen, Inc. will post ($0.31) earnings per share for the current year.
Several research firms have recently issued reports on AXGN. Roth Capital began coverage on AxoGen in a research note on Monday, March 6th. They set a “buy” rating and a $14.50 price target for the company. Wedbush reiterated an “outperform” rating and set a $14.00 price target (down previously from $17.00) on shares of AxoGen in a research note on Friday, May 19th. Finally, ValuEngine upgraded AxoGen from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. AxoGen currently has an average rating of “Buy” and a consensus target price of $13.17.
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