Wellington Management Group LLP Grows Stock Holdings in AxoGen, Inc. $AXGN

Wellington Management Group LLP lifted its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 44.3% during the second quarter, HoldingsChannel.com reports. The fund owned 1,391,654 shares of the medical equipment provider’s stock after buying an additional 427,089 shares during the quarter. Wellington Management Group LLP’s holdings in AxoGen were worth $64,280,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. MCF Advisors LLC bought a new position in AxoGen in the fourth quarter worth approximately $30,000. Aquatic Capital Management LLC raised its position in AxoGen by 287.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 1,269 shares in the last quarter. Arax Advisory Partners lifted its holdings 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 worth $34,000 after buying an additional 819 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of AxoGen during the 4th quarter worth $36,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of AxoGen during the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on AXGN shares. Citizens Jmp increased their target price on shares of AxoGen from $50.00 to $55.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Canaccord Genuity Group boosted their price target on shares of AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. HC Wainwright lifted their price objective on shares of AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AxoGen has an average rating of “Moderate Buy” and a consensus price target of $51.56.

AxoGen Trading Down 3.2%

NASDAQ AXGN opened at $48.30 on Thursday. AxoGen, Inc. has a 52 week low of $15.24 and a 52 week high of $52.91. The company has a 50 day moving average price of $45.09 and a 200 day moving average price of $39.90. The company has a quick ratio of 5.04, a current ratio of 6.60 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.60 billion, a PE ratio of -71.03 and a beta of 1.16.

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

Insider Transactions at AxoGen

In related news, EVP Marc A. Began sold 67,500 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the transaction, the executive vice president directly owned 50,135 shares in the company, valued at $2,373,390.90. The trade was a 57.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Mcbride Wendell sold 13,353 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total value of $646,552.26. Following the transaction, the director directly owned 107,976 shares in the company, valued at $5,228,197.92. This represents a 11.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 95,003 shares of company stock valued at $4,482,997 in the last quarter. 2.44% of the stock is currently owned by corporate insiders.

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.