Amy Mcbride Wendell Sells 1,647 Shares of AxoGen (NASDAQ:AXGN) Stock

AxoGen, Inc. (NASDAQ:AXGN) Director Amy Mcbride Wendell sold 1,647 shares of AxoGen stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $42.60, for a total value of $70,162.20. Following the completion of the sale, the director directly owned 93,826 shares in the company, 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 at the SEC website.

AxoGen Stock Performance

AXGN opened at $40.29 on Thursday. The business’s 50-day moving average price is $34.97 and its two-hundred day moving average price is $31.81. AxoGen, Inc. has a 1 year low of $9.22 and a 1 year high of $45.83. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -62.95 and a beta of 1.17. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. The firm had revenue of $61.46 million during the quarter, compared to analyst estimates of $57.85 million. Equities analysts expect that AxoGen, Inc. will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On AxoGen

Several hedge funds have recently modified their holdings of AXGN. Royal Bank of Canada grew its holdings in shares of AxoGen by 14.2% in the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after acquiring an additional 4,723 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of AxoGen by 45.3% in the 1st quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after acquiring an additional 7,453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AxoGen by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after acquiring an additional 1,057 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in AxoGen by 104,810.0% during the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after purchasing an additional 10,481 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in AxoGen by 37.3% during the second quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock worth $4,113,000 after purchasing an additional 103,072 shares during the period. Institutional investors own 80.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AXGN shares. Raymond James Financial reissued an “outperform” rating and issued a $48.00 price target on shares of AxoGen in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their price target on AxoGen from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Citizens Jmp lifted their price target on AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 29th. HC Wainwright lifted their price target on AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Canaccord Genuity Group raised their price objective on AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.50.

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.