AxoGen (NASDAQ:AXGN) Rating Lowered to “Hold” at Wall Street Zen

AxoGen (NASDAQ:AXGN) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other analysts have also weighed in on AXGN. Raymond James Financial reiterated an “outperform” rating and set a $48.00 target price on shares of AxoGen in a research report on Wednesday, April 29th. Wells Fargo & Company increased their price target on shares of AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Citigroup restated an “outperform” rating on shares of AxoGen in a research note on Wednesday, April 29th. Canaccord Genuity Group lifted 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. Finally, Zacks Research upgraded AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Nine equities 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.50.

AxoGen Price Performance

Shares of AXGN stock opened at $39.85 on Friday. The stock has a market cap of $2.12 billion, a P/E ratio of -62.27 and a beta of 1.09. AxoGen has a one year low of $11.25 and a one year high of $46.95. The stock has a fifty day moving average price of $42.29 and a 200 day moving average price of $36.83. 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 posted its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%.The business had revenue of $61.46 million for the quarter, compared to analyst estimates of $57.85 million. Analysts predict that AxoGen will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Amy Mcbride Wendell sold 1,647 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $42.60, for a total transaction of $70,162.20. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathy Johnson Weiler sold 16,344 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $44.09, for a total value of $720,606.96. Following the sale, the director directly owned 16,344 shares of the company’s stock, valued at $720,606.96. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 29,041 shares of company stock valued at $1,268,792. 2.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AxoGen

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MFG Wealth Management Inc. bought a new stake in shares of AxoGen during the second quarter worth $1,195,000. California State Teachers Retirement System increased its stake in shares of AxoGen by 51.9% in the first quarter. California State Teachers Retirement System now owns 59,129 shares of the medical equipment provider’s stock valued at $1,959,000 after buying an additional 20,203 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of AxoGen by 66.4% in the first quarter. The Manufacturers Life Insurance Company now owns 22,166 shares of the medical equipment provider’s stock valued at $734,000 after buying an additional 8,844 shares during the last quarter. SummitTX Capital L.P. bought a new position in shares of AxoGen in the first quarter valued at about $7,769,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in AxoGen during the 1st quarter worth about $3,847,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

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.