25,876 Shares in AxoGen, Inc. $AXGN Acquired by MFG Wealth Management Inc.

MFG Wealth Management Inc. bought a new position in AxoGen, Inc. (NASDAQ:AXGN) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,876 shares of the medical equipment provider’s stock, valued at approximately $1,195,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AXGN. First Light Asset Management LLC lifted its holdings in shares of AxoGen by 1.2% in the second quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock valued at $49,142,000 after buying an additional 55,028 shares during the period. Vanguard Group Inc. boosted its stake in AxoGen by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock valued at $93,934,000 after buying an additional 190,557 shares in the last quarter. Morgan Stanley grew its holdings in AxoGen by 6.5% during the fourth quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock worth $84,668,000 after acquiring an additional 157,029 shares during the period. Balyasny Asset Management L.P. grew its holdings in AxoGen by 183.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock worth $20,953,000 after acquiring an additional 1,250,968 shares during the period. Finally, Wasatch Advisors LP raised its position in AxoGen by 101.1% in the first quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock worth $61,534,000 after acquiring an additional 933,778 shares in the last quarter. 80.29% of the stock is owned by institutional investors.

AxoGen Trading Up 4.7%

NASDAQ:AXGN opened at $46.43 on Friday. The stock has a fifty day simple moving average of $42.64 and a 200 day simple moving average of $37.87. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -68.28 and a beta of 1.11. AxoGen, Inc. has a 1-year low of $13.64 and a 1-year high of $46.95. 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 data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%.The firm had revenue of $69.73 million for the quarter, compared to the consensus estimate of $67.10 million. Sell-side analysts forecast that AxoGen, Inc. will post -0.45 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AXGN shares. Raymond James Financial reissued an “outperform” rating and issued a $48.00 price target on shares of AxoGen in a report on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a report on Friday, May 29th. Zacks Research raised shares of AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Truist Financial set a $55.00 target price on shares of AxoGen in a report on Thursday, July 30th. Finally, Canaccord Genuity Group lifted their price target on shares of AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.00.

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.