The Manufacturers Life Insurance Company Invests $1.22 Million in AxoGen, Inc. $AXGN

The Manufacturers Life Insurance Company bought a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the 2nd quarter, HoldingsChannel reports. The fund bought 26,382 shares of the medical equipment provider’s stock, valued at approximately $1,219,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AXGN. Lisanti Capital Growth LLC purchased a new stake in AxoGen in the 2nd quarter valued at approximately $4,183,000. Stephens Investment Management Group LLC purchased a new position in shares of AxoGen during the 4th quarter worth approximately $5,043,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of AxoGen during the 2nd quarter worth approximately $1,469,000. Legato Capital Management LLC acquired a new stake in shares of AxoGen in the 4th quarter valued at approximately $1,323,000. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of AxoGen in the 2nd quarter valued at approximately $31,863,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $48.28 on Friday. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -71.00 and a beta of 1.16. AxoGen, Inc. has a 52 week low of $15.27 and a 52 week high of $52.91. The company’s 50-day moving average price is $45.21 and its 200 day moving average price is $40.05. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07.

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

Insider Buying and Selling at AxoGen

In related news, Director Amy Wendell sold 13,353 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total value of $646,552.26. Following the sale, the director owned 107,976 shares of the company’s stock, valued at approximately $5,228,197.92. This represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Weiler sold 14,150 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $45.30, for a total value of $640,995.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 98,503 shares of company stock valued at $4,656,947. Company insiders own 2.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AXGN. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a report on Thursday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of AxoGen in a report on Wednesday, August 26th. Truist Financial started coverage on shares of AxoGen in a research report on Wednesday, August 26th. They set a “buy” rating and a $60.00 target price on the stock. Canaccord Genuity Group upped their price target on shares of AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, HC Wainwright increased their price target on shares of AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, AxoGen presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.56.

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.