51,918 Shares in AxoGen, Inc. $AXGN Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the 1st quarter, Holdings Channel.com reports. The firm bought 51,918 shares of the medical equipment provider’s stock, valued at approximately $1,720,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. MCF Advisors LLC bought a new position in AxoGen during the 4th quarter worth approximately $30,000. Arax Advisory Partners boosted its stake in shares of AxoGen by 362.4% in the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 819 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of AxoGen in the 4th quarter valued at $36,000. Kestra Advisory Services LLC acquired a new stake in shares of AxoGen during the fourth quarter worth $39,000. Finally, KBC Group NV acquired a new stake in shares of AxoGen during the first quarter worth $41,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AXGN. Canaccord Genuity Group lifted their target price on shares of AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price target on shares of AxoGen in a report on Wednesday. Lake Street Capital lifted their price objective on AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. HC Wainwright boosted their price objective on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Citigroup restated a “market outperform” rating on shares of AxoGen in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.00.

Insider Transactions at AxoGen

In other news, Director Amy Mcbride Wendell sold 1,647 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $42.60, for a total transaction of $70,162.20. Following the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Johnson sold 11,050 shares of the firm’s stock in a transaction dated 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 sale, the director owned 11,050 shares of the company’s stock, 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. Insiders have sold 29,041 shares of company stock valued at $1,268,792 in the last 90 days. 2.44% of the stock is currently owned by corporate insiders.

AxoGen Price Performance

AxoGen stock opened at $42.21 on Monday. The company has a market capitalization of $2.27 billion, a PE ratio of -62.07 and a beta of 1.11. AxoGen, Inc. has a 12-month low of $12.39 and a 12-month high of $46.95. The firm’s fifty day moving average is $42.13 and its 200 day moving average is $37.41. The company has a quick ratio of 5.04, a current ratio of 6.60 and a debt-to-equity ratio of 0.07.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 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 business had revenue of $69.73 million during the quarter, compared to analysts’ expectations of $67.10 million. As a group, sell-side analysts predict that AxoGen, Inc. will post -0.37 EPS for the current fiscal year.

AxoGen 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.