Bamco Inc. NY Takes $3.44 Million Position in AxoGen, Inc. (AXGN)

Bamco Inc. NY acquired a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 177,935 shares of the medical equipment provider’s stock, valued at approximately $3,443,000. Bamco Inc. NY owned approximately 0.53% of AxoGen at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXGN. Bank of America Corp DE lifted its position in shares of AxoGen by 8.7% during the 1st quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock valued at $106,000 after acquiring an additional 814 shares during the period. Thompson Davis & CO. Inc. lifted its position in shares of AxoGen by 575.0% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the medical equipment provider’s stock worth $113,000 after buying an additional 5,750 shares during the last quarter. Neuberger Berman Group LLC bought a new stake in shares of AxoGen during the 2nd quarter worth $201,000. Valeo Financial Advisors LLC bought a new stake in shares of AxoGen during the 3rd quarter worth $244,000. Finally, Nationwide Fund Advisors lifted its position in shares of AxoGen by 5.5% during the 2nd quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock worth $249,000 after buying an additional 774 shares during the last quarter. 66.00% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Guido J. Neels sold 1,150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.74, for a total transaction of $22,701,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jamie Mark Grooms sold 38,405 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $26.35, for a total value of $1,011,971.75. The disclosure for this sale can be found here. Insiders have sold 1,293,990 shares of company stock valued at $26,494,898 in the last ninety days. 9.33% of the stock is currently owned by insiders.

Several analysts recently weighed in on AXGN shares. Cantor Fitzgerald restated a “buy” rating and set a $18.00 price objective on shares of AxoGen in a research report on Monday, August 21st. Roth Capital restated a “buy” rating and set a $21.00 price objective (up from $18.00) on shares of AxoGen in a research report on Tuesday, September 12th. Leerink Swann reaffirmed an “outperform” rating and issued a $23.00 target price (up previously from $22.00) on shares of AxoGen in a report on Saturday, September 30th. Wedbush reaffirmed a “buy” rating and issued a $27.00 target price (up previously from $22.00) on shares of AxoGen in a report on Tuesday, November 21st. Finally, Lake Street Capital upped their target price on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 21st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $26.17.

AxoGen, Inc. (NASDAQ AXGN) opened at $26.35 on Friday. The company has a quick ratio of 2.95, a current ratio of 3.55 and a debt-to-equity ratio of 1.93. AxoGen, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $27.60.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $16.05 million during the quarter, compared to analysts’ expectations of $15.55 million. AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. The company’s revenue was up 43.2% on a year-over-year basis. analysts anticipate that AxoGen, Inc. will post -0.31 EPS for the current fiscal year.

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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.

Institutional Ownership by Quarter for AxoGen (NASDAQ:AXGN)

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