AxoGen (NASDAQ:AXGN) Insider Erick Wayne Devinney Sells 5,221 Shares

AxoGen, Inc. (NASDAQ:AXGN) insider Erick Wayne Devinney sold 5,221 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $32.84, for a total value of $171,457.64. Following the completion of the transaction, the insider directly owned 262,781 shares of the company’s stock, valued at $8,629,728.04. The trade was a 1.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

AxoGen Stock Down 5.5%

AxoGen stock opened at $30.94 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.11 and a quick ratio of 3.31. The stock has a market capitalization of $1.61 billion, a PE ratio of -91.00 and a beta of 0.98. The business has a 50 day simple moving average of $32.67 and a 200-day simple moving average of $26.53. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $36.00.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $59.90 million during the quarter, compared to analyst estimates of $59.90 million. AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. On average, analysts anticipate that AxoGen, Inc. will post -0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. HC Wainwright raised their price target on shares of AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Wells Fargo & Company assumed coverage on AxoGen in a report on Thursday, February 19th. They set an “overweight” rating and a $40.00 target price for the company. Weiss Ratings restated a “sell (e+)” rating on shares of AxoGen in a research report on Monday, December 29th. Wall Street Zen lowered AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, Canaccord Genuity Group boosted their price target on AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.38.

Institutional Trading of AxoGen

A number of hedge funds and other institutional investors have recently modified their holdings of AXGN. Royal Bank of Canada boosted its position in shares of AxoGen by 14.2% during the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after acquiring an additional 4,723 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of AxoGen by 45.3% in the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after purchasing an additional 7,453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in AxoGen by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock worth $466,000 after purchasing an additional 1,057 shares during the last quarter. Jones Financial Companies Lllp raised its stake in AxoGen by 104,810.0% during the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after purchasing an additional 10,481 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in AxoGen by 120.2% during the second quarter. PNC Financial Services Group Inc. now owns 8,077 shares of the medical equipment provider’s stock worth $88,000 after purchasing an additional 4,409 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

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.