Teacher Retirement System of Texas bought a new position in shares of AxoGen, Inc. (NASDAQ:AXGN) in the fourth quarter, HoldingsChannel.com reports. The fund bought 9,563 shares of the medical equipment provider’s stock, valued at approximately $271,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of AxoGen by 6.0% during the second quarter. The Manufacturers Life Insurance Company now owns 23,616 shares of the medical equipment provider’s stock worth $395,000 after buying an additional 1,335 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of AxoGen by 1.2% during the third quarter. Allianz Asset Management GmbH now owns 260,484 shares of the medical equipment provider’s stock worth $5,040,000 after buying an additional 2,979 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of AxoGen by 4.9% during the third quarter. California Public Employees Retirement System now owns 137,536 shares of the medical equipment provider’s stock worth $2,661,000 after buying an additional 6,436 shares in the last quarter. Essex Investment Management Co. LLC lifted its holdings in shares of AxoGen by 3.9% during the fourth quarter. Essex Investment Management Co. LLC now owns 202,636 shares of the medical equipment provider’s stock worth $5,735,000 after buying an additional 7,622 shares in the last quarter. Finally, Pennsylvania Trust Co lifted its holdings in shares of AxoGen by 7.0% during the fourth quarter. Pennsylvania Trust Co now owns 152,370 shares of the medical equipment provider’s stock worth $4,312,000 after buying an additional 10,000 shares in the last quarter. 67.97% of the stock is owned by institutional investors.
In other AxoGen news, Director Jamie Mark Grooms sold 63,395 shares of AxoGen stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $27.67, for a total value of $1,754,139.65. Following the transaction, the director now owns 5,827 shares in the company, valued at $161,233.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 169,407 shares of company stock valued at $4,593,013. 9.33% of the stock is owned by insiders.
AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, February 28th. The medical equipment provider reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02. The business had revenue of $16.97 million during the quarter, compared to the consensus estimate of $16.38 million. AxoGen had a negative return on equity of 70.63% and a negative net margin of 17.29%. AxoGen’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. equities research analysts anticipate that AxoGen, Inc. will post -0.3 EPS for the current fiscal year.
A number of research analysts recently commented on the company. Jefferies Group boosted their price target on AxoGen to $45.00 and gave the company a “buy” rating in a research note on Monday, March 19th. Lake Street Capital set a $38.00 price target on AxoGen and gave the company a “buy” rating in a research note on Friday, March 2nd. JMP Securities boosted their price target on AxoGen from $27.00 to $34.00 and gave the company a “market outperform” rating in a research note on Thursday, March 1st. BidaskClub raised AxoGen from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 23rd. Finally, William Blair assumed coverage on AxoGen in a research note on Monday, February 5th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $33.14.
AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company?s surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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