Westover Capital Advisors LLC Makes New Investment in AxoGen, Inc. $AXGN

Westover Capital Advisors LLC purchased a new position in shares of AxoGen, Inc. (NASDAQ:AXGN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 15,269 shares of the medical equipment provider’s stock, valued at approximately $500,000.

Several other institutional investors have also recently made changes to their positions in the stock. First Light Asset Management LLC increased its position in shares of AxoGen by 28.2% during the 3rd quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock worth $103,574,000 after purchasing an additional 1,276,487 shares during the last quarter. Vanguard Group Inc. increased its position in shares of AxoGen by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock worth $93,934,000 after purchasing an additional 190,557 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of AxoGen by 20.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,958,406 shares of the medical equipment provider’s stock worth $34,938,000 after purchasing an additional 332,498 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of AxoGen by 183.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock worth $20,953,000 after purchasing an additional 1,250,968 shares during the last quarter. Finally, Wasatch Advisors LP increased its position in shares of AxoGen by 14.3% during the 3rd quarter. Wasatch Advisors LP now owns 1,639,351 shares of the medical equipment provider’s stock worth $29,246,000 after purchasing an additional 205,569 shares during the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Stock Performance

Shares of NASDAQ AXGN opened at $40.90 on Monday. The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $45.83. The stock has a 50 day moving average of $36.62 and a 200-day moving average of $32.85. The company has a market capitalization of $2.18 billion, a P/E ratio of -63.91 and a beta of 1.17.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $57.85 million. As a group, equities research analysts predict that AxoGen, Inc. will post -0.3 EPS for the current year.

Insider Transactions at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 1,647 shares of the company’s stock in a transaction 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 transaction, the director directly owned 93,826 shares of the company’s stock, valued at $3,996,987.60. This represents a 1.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Johnson sold 11,050 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $43.26, for a total value of $478,023.00. Following the completion of the transaction, the director directly owned 11,050 shares in the company, valued at approximately $478,023. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 34,262 shares of company stock valued at $1,440,250. Corporate insiders own 2.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AXGN. Zacks Research lowered AxoGen from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Raymond James Financial reiterated an “outperform” rating and set a $48.00 target price on shares of AxoGen in a research note on Wednesday, April 29th. HC Wainwright lifted their target price on AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Citizens Jmp lifted their target price on AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded AxoGen from a “hold” rating to a “buy” rating in a research note on Saturday. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AxoGen currently has an average rating of “Moderate Buy” and an average target price of $46.50.

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.