AxoGen (NASDAQ:AXGN) Director Joseph Tyndall Sells 3,500 Shares

AxoGen, Inc. (NASDAQ:AXGN) Director Joseph Tyndall sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $49.70, for a total value of $173,950.00. Following the sale, the director directly owned 10,650 shares of the company’s stock, valued at $529,305. This trade represents a 24.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Stock Up 2.5%

Shares of AxoGen stock opened at $48.28 on Friday. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -71.00 and a beta of 1.16. The stock has a 50-day simple moving average of $45.21 and a 200-day simple moving average of $40.05. AxoGen, Inc. has a 52-week low of $15.27 and a 52-week high of $52.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $69.73 million for the quarter, compared to the consensus estimate of $67.10 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. On average, equities research analysts expect that AxoGen, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Light Asset Management LLC raised its holdings in AxoGen by 1.2% in the 2nd quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock worth $49,142,000 after acquiring an additional 55,028 shares during the period. BlackRock Inc. acquired a new stake in shares of AxoGen in the second quarter valued at about $204,123,000. Vanguard Group Inc. grew its position in shares of AxoGen by 7.1% in 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 purchasing an additional 190,557 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of AxoGen by 4,400.3% in the second quarter. California State Teachers Retirement System now owns 2,661,006 shares of the medical equipment provider’s stock worth $122,912,000 after purchasing an additional 2,601,877 shares during the period. Finally, Morgan Stanley increased its stake in shares of AxoGen by 6.5% in the fourth quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock worth $84,668,000 after purchasing an additional 157,029 shares during the period. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AXGN shares. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Canaccord Genuity Group raised their target price on AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. HC Wainwright boosted their price target on AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, August 26th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.56.

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.