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

Wall Street Zen cut shares of AxoGen (NASDAQ:AXGN) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on AXGN. HC Wainwright lifted their price target on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Raymond James Financial raised their target price on AxoGen from $48.00 to $53.00 and gave the company an “outperform” rating in a research note on Friday. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 target price on shares of AxoGen in a report on Wednesday, July 29th. Citigroup reissued a “market outperform” rating on shares of AxoGen in a report on Thursday, July 30th. Finally, Citizens Jmp raised their price objective on shares of AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.11.

AxoGen Trading Up 0.2%

Shares of NASDAQ:AXGN opened at $43.39 on Friday. The company has a 50 day moving average of $45.80 and a 200-day moving average of $41.36. The firm has a market cap of $2.33 billion, a P/E ratio of -63.81 and a beta of 1.16. AxoGen has a twelve month low of $15.27 and a twelve month high of $52.91. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The business had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. As a group, analysts anticipate that AxoGen will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Joseph A. Tyndall sold 3,500 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $49.70, for a total transaction of $173,950.00. Following the completion of the sale, the director directly owned 10,650 shares of the company’s stock, valued at $529,305. This represents a 24.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Weiler sold 14,150 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $45.30, for a total value of $640,995.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 98,503 shares of company stock valued at $4,656,947. Insiders own 2.44% of the company’s stock.

Institutional Trading of AxoGen

A number of hedge funds have recently bought and sold shares of AXGN. BlackRock Inc. purchased a new position in shares of AxoGen in the second quarter worth approximately $204,123,000. Wasatch Advisors LP lifted its position in shares of AxoGen by 101.1% in the 1st quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock valued at $61,534,000 after acquiring an additional 933,778 shares in the last quarter. Next Century Growth Investors LLC purchased a new stake in shares of AxoGen in the 4th quarter valued at approximately $26,180,000. Perceptive Advisors LLC acquired a new position in AxoGen in the 4th quarter worth approximately $25,665,000. Finally, Bamco Inc. NY purchased a new position in AxoGen during the 2nd quarter worth approximately $34,190,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Company Profile

AxoGen, Inc (NASDAQ: AXGN) is a medical technology company focused on the repair and regeneration of damaged peripheral nerves. The company develops and markets biologic and surgical products intended to help restore sensory and motor function following traumatic nerve injuries or surgical procedures.

Its product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves; Axoguard Nerve Connector, designed to protect and support the repair of smaller nerve injuries; and Axoguard Nerve Protector, a collagen-based product intended to help protect repaired nerves and reduce the effects of scar tissue.