AxoGen (NASDAQ:AXGN) Hits New 52-Week High – Still a Buy?

AxoGen, Inc. (NASDAQ:AXGN) hit a new 52-week high during trading on Wednesday. The stock traded as high as $53.87 and last traded at $53.7260, with a volume of 963,946 shares traded. The stock had previously closed at $50.89.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AXGN shares. Citizens Jmp upped 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. Raymond James Financial restated an “outperform” rating and issued a $57.00 target price on shares of AxoGen in a research note on Thursday, October 29th. Citigroup restated a “market outperform” rating on shares of AxoGen in a research report on Thursday, July 30th. Wall Street Zen cut shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 8th. Finally, Truist Financial lifted their target price on AxoGen from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AxoGen currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.92.

AxoGen Trading Up 0.2%

The business has a 50 day simple moving average of $43.09 and a 200-day simple moving average of $40.33. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -85.96 and a beta of 1.21. The company has a debt-to-equity ratio of 0.04, a current ratio of 12.02 and a quick ratio of 10.67.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. AxoGen had a negative return on equity of 5.35% and a negative net margin of 11.96%. The business had revenue of $75.83 million for the quarter, compared to analysts’ expectations of $73.45 million. As a group, equities analysts expect that AxoGen, Inc. will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Joseph Tyndall sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $49.70, for a total value of $173,950.00. Following the completion of the transaction, the director owned 10,650 shares in the company, valued at $529,305. This 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 available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in AxoGen during the 2nd quarter worth about $204,123,000. Artemis Investment Management LLP boosted its position in shares of AxoGen by 27.5% during the third quarter. Artemis Investment Management LLP now owns 1,780,992 shares of the medical equipment provider’s stock worth $74,659,000 after buying an additional 384,200 shares during the period. Wellington Management Group LLP boosted its position in shares of AxoGen by 44.3% during the second quarter. Wellington Management Group LLP now owns 1,391,654 shares of the medical equipment provider’s stock worth $64,280,000 after buying an additional 427,089 shares during the period. Stephens Investment Management Group LLC boosted its position in shares of AxoGen by 336.8% during the third quarter. Stephens Investment Management Group LLC now owns 1,130,854 shares of the medical equipment provider’s stock worth $47,405,000 after buying an additional 871,949 shares during the period. Finally, Bamco Inc. NY acquired a new position in shares of AxoGen during the second quarter worth about $34,190,000. 80.29% of the stock is owned by institutional investors.

AxoGen Company Profile

AxoGen, Inc. is a medical technology company focused on repairing peripheral nerve injuries—damage to nerves outside the brain and spinal cord. Its products are used by surgeons in procedures intended to restore nerve function and sensation. The company’s offerings include Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves, and Axoguard products designed to protect, connect or cap nerves during repair. Axogen also provides education and support for healthcare professionals who use its nerve-repair solutions.