Key Points
- Director John Johnson sold 11,050 shares of AxoGen on May 7 at an average price of $43.26, for total proceeds of about $478,023. The transaction cut his ownership by 50%.
- AxoGen reported Q1 earnings of $0.07 per share, missing analyst estimates of $0.12, though revenue came in above expectations at $61.46 million. The company also posted negative net margin and return on equity.
- Despite the insider sale, analysts remain broadly positive on AXGN, with several firms raising price targets to $50 and the stock carrying an average Moderate Buy rating and $46.50 target price.
AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) Director John Johnson sold 11,050 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $43.26, for a total value of $478,023.00. Following the completion of the transaction, the director directly owned 11,050 shares in the company, valued at approximately $478,023. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
AxoGen Stock Performance
Shares of NASDAQ AXGN opened at $42.06 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33. The stock's fifty day moving average price is $34.20 and its two-hundred day moving average price is $31.15. AxoGen, Inc. has a one year low of $9.22 and a one year high of $45.83. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -65.72 and a beta of 1.17.
AxoGen (NASDAQ:AXGN - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.05). AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. The firm had revenue of $61.46 million during the quarter, compared to analyst estimates of $57.85 million. On average, equities analysts forecast that AxoGen, Inc. will post -0.3 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of AXGN. First Light Asset Management LLC increased its position in shares of AxoGen by 28.2% in the third quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider's stock worth $103,574,000 after purchasing an additional 1,276,487 shares during the period. Balyasny Asset Management L.P. increased its position in shares of AxoGen by 183.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider's stock worth $20,953,000 after purchasing an additional 1,250,968 shares during the period. Wasatch Advisors LP increased its position in shares of AxoGen by 101.1% in the first quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider's stock worth $61,534,000 after purchasing an additional 933,778 shares during the period. Millennium Management LLC increased its position in shares of AxoGen by 2,255.8% in the fourth quarter. Millennium Management LLC now owns 971,358 shares of the medical equipment provider's stock worth $31,793,000 after purchasing an additional 930,126 shares during the period. Finally, Bessemer Group Inc. bought a new position in shares of AxoGen in the third quarter worth $14,468,000. Institutional investors own 80.29% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Lake Street Capital upped their price objective on AxoGen from $40.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Wells Fargo & Company upped their price objective on AxoGen from $40.00 to $48.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Citizens Jmp increased their target price on AxoGen from $42.00 to $50.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 29th. HC Wainwright raised their price target on AxoGen from $39.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Canaccord Genuity Group raised their price target on AxoGen from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, AxoGen currently has an average rating of "Moderate Buy" and an average target price of $46.50.
Get Our Latest Stock Analysis on AXGN
AxoGen Company Profile
(
Get Free Report)
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.
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