Key Points
- AxoGen director Amy Mcbride Wendell sold 1,647 shares on May 8 at an average price of $42.60, totaling about $70,162. After the sale, she still owned 93,826 shares worth roughly $4.0 million.
- The stock traded slightly higher and was recently around $40.93, near its 52-week high of $45.83. AxoGen also has strong liquidity, with a quick ratio of 5.33 and a current ratio of 7.10.
- Analysts remain mostly bullish despite AxoGen’s mixed earnings report, where it missed EPS expectations but beat revenue estimates. The stock has a consensus rating of “Moderate Buy” with an average price target of $46.50.
AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) Director Amy Mcbride Wendell sold 1,647 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $42.60, for a total transaction of $70,162.20. Following the completion of the sale, the director directly owned 93,826 shares of the company's stock, valued at approximately $3,996,987.60. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
AxoGen Stock Up 0.3%
NASDAQ AXGN opened at $40.93 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10. The firm has a 50-day simple moving average of $34.78 and a 200 day simple moving average of $31.66. AxoGen, Inc. has a twelve month low of $9.22 and a twelve month high of $45.83. The stock has a market cap of $2.18 billion, a PE ratio of -63.95 and a beta of 1.17.
AxoGen (NASDAQ:AXGN - Get Free Report) last released its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.05). The company had revenue of $61.46 million during the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. On average, research analysts forecast that AxoGen, Inc. will post -0.3 EPS for the current year.
Hedge Funds Weigh In On AxoGen
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXGN. Commonwealth Equity Services LLC grew its holdings in AxoGen by 1.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider's stock worth $703,000 after acquiring an additional 371 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in AxoGen by 6.2% during the first quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider's stock worth $296,000 after buying an additional 525 shares during the last quarter. Arax Advisory Partners boosted its position in shares of AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider's stock valued at $34,000 after purchasing an additional 819 shares in the last quarter. Brooklyn Investment Group grew its position in shares of AxoGen by 4.2% during the 4th quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider's stock worth $688,000 after buying an additional 823 shares during the period. Finally, MCF Advisors LLC bought a new position in AxoGen during the fourth quarter worth $30,000. 80.29% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
AXGN has been the topic of a number of recent research reports. Lake Street Capital raised their price objective on shares of AxoGen from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Citigroup restated an "outperform" rating on shares of AxoGen in a report on Wednesday, April 29th. Raymond James Financial reiterated an "outperform" rating and issued a $48.00 price target on shares of AxoGen in a research note on Wednesday, April 29th. HC Wainwright boosted their target price on AxoGen from $39.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Citizens Jmp upped their price target on shares of AxoGen from $42.00 to $50.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.50.
Check Out Our Latest Research Report on AxoGen
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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