FourThought Financial Partners LLC Buys Shares of 16,407 AxoGen, Inc. $AXGN

FourThought Financial Partners LLC purchased a new position in AxoGen, Inc. (NASDAQ:AXGN) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 16,407 shares of the medical equipment provider’s stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Balyasny Asset Management L.P. boosted its position in shares of AxoGen by 183.9% in 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 in the last quarter. Bessemer Group Inc. acquired a new position in AxoGen during the 3rd quarter valued at about $14,468,000. Wasatch Advisors LP raised its stake in AxoGen by 85.1% in the second quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider’s stock valued at $15,557,000 after buying an additional 659,149 shares during the last quarter. Brown Capital Management LLC purchased a new stake in AxoGen in the third quarter valued at about $11,500,000. Finally, Armistice Capital LLC boosted its holdings in AxoGen by 106.5% in the second quarter. Armistice Capital LLC now owns 1,111,319 shares of the medical equipment provider’s stock worth $12,058,000 after acquiring an additional 573,041 shares in the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AXGN. Lake Street Capital boosted their price target on AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Mizuho assumed coverage on shares of AxoGen in a research note on Monday, December 1st. They issued an “outperform” rating and a $40.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of AxoGen in a research report on Monday, December 29th. Citizens Jmp upped their price target on shares of AxoGen from $34.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 24th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $41.00 price target on shares of AxoGen in a report on Monday, February 23rd. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.38.

AxoGen Stock Down 1.6%

Shares of AXGN stock opened at $31.76 on Friday. AxoGen, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $36.00. The firm has a market capitalization of $1.65 billion, a PE ratio of -93.41 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.31 and a current ratio of 5.11. The stock’s 50-day simple moving average is $32.62 and its 200-day simple moving average is $26.00.

AxoGen (NASDAQ:AXGN) last released 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). The firm had revenue of $59.90 million for the quarter, compared to analyst estimates of $59.90 million. AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%. Equities analysts expect that AxoGen, Inc. will post -0.29 earnings per share for the current year.

Insider Buying and Selling at AxoGen

In other news, Director Kathy Johnson Weiler sold 46,653 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $29.55, for a total value of $1,378,596.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy Mcbride Wendell sold 43,684 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $29.31, for a total transaction of $1,280,378.04. Following the transaction, the director directly owned 93,826 shares of the company’s stock, valued at approximately $2,750,040.06. This trade represents a 31.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 105,149 shares of company stock worth $3,101,261. Company insiders own 2.78% of the company’s stock.

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.