Royce & Associates LP Purchases New Shares in AxoGen, Inc. $AXGN

Royce & Associates LP acquired a new position in AxoGen, Inc. (NASDAQ:AXGN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 201,044 shares of the medical equipment provider’s stock, valued at approximately $3,587,000. Royce & Associates LP owned approximately 0.44% of AxoGen at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in AxoGen by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock worth $466,000 after buying an additional 1,057 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of AxoGen by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,194 shares of the medical equipment provider’s stock worth $176,000 after acquiring an additional 1,079 shares during the period. Arizona State Retirement System raised its position in shares of AxoGen by 10.0% in the 3rd quarter. Arizona State Retirement System now owns 12,801 shares of the medical equipment provider’s stock worth $228,000 after acquiring an additional 1,164 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of AxoGen in the 3rd quarter valued at approximately $27,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of AxoGen during the third quarter valued at approximately $43,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Price Performance

NASDAQ AXGN opened at $29.16 on Friday. The company has a 50-day moving average price of $32.86 and a 200-day moving average price of $25.49. AxoGen, Inc. has a 52 week low of $9.22 and a 52 week high of $36.00. The company has a quick ratio of 3.31, a current ratio of 5.11 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $1.51 billion, a P/E ratio of -85.76 and a beta of 0.98.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%.The company had revenue of $59.90 million during the quarter, compared to the consensus estimate of $59.90 million. Equities research analysts anticipate that AxoGen, Inc. will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John Johnson sold 23,693 shares of AxoGen stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $31.24, for a total transaction of $740,169.32. Following the sale, the director owned 13,141 shares in the company, valued at $410,524.84. This trade represents a 64.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael D. Dale sold 61,463 shares of AxoGen stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total transaction of $1,918,260.23. Following the completion of the sale, the chief executive officer owned 88,537 shares in the company, valued at approximately $2,763,239.77. This represents a 40.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 301,680 shares of company stock worth $9,174,052 over the last ninety days. 2.78% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded AxoGen from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Citizens Jmp upped their target price on shares of AxoGen from $34.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 24th. Lake Street Capital lifted their price target on shares of AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Raymond James Financial restated an “outperform” rating and issued a $41.00 price objective on shares of AxoGen in a report on Monday, February 23rd. Finally, Citigroup reaffirmed an “outperform” rating on shares of AxoGen in a research note on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.38.

AxoGen Company Profile

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.