Key Points
- AxoGen EVP Marc Began sold 67,500 shares at an average price of $47.34, generating $3.20 million. The Rule 10b5-1 transaction reduced his holdings by 57.38%, leaving him with 50,135 shares.
- AxoGen reported quarterly revenue of $69.73 million, above analyst expectations of $67.10 million, while matching the consensus EPS estimate of $0.12. Analysts expect a full-year loss of $0.45 per share.
- Wall Street maintains a generally positive outlook, with nine Buy ratings, one Hold and one Sell; the stock has an average “Moderate Buy” rating and a $51 price target, compared with a recent price of $49.67.
AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) Director Amy Mcbride Wendell sold 13,353 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total transaction of $646,552.26. Following the sale, the director directly owned 107,976 shares in the company, valued at $5,228,197.92. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
AxoGen Stock Performance
Shares of AXGN stock opened at $49.67 on Thursday. The company has a fifty day moving average price of $43.19 and a two-hundred day moving average price of $38.27. AxoGen, Inc. has a one year low of $13.64 and a one year high of $49.90. The stock has a market cap of $2.67 billion, a P/E ratio of -73.04 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04.
AxoGen (NASDAQ:AXGN - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. As a group, equities analysts predict that AxoGen, Inc. will post -0.45 EPS for the current year.
Analyst Ratings Changes
A number of research firms recently weighed in on AXGN. Wells Fargo & Company increased their price target on AxoGen from $40.00 to $48.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price objective on shares of AxoGen in a research report on Wednesday, July 29th. Lake Street Capital upped their price objective on shares of AxoGen from $40.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Raymond James Financial reissued an "outperform" rating and issued a $48.00 price objective on shares of AxoGen in a research report on Wednesday, April 29th. Finally, Canaccord Genuity Group raised their target price on shares of AxoGen from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AxoGen has an average rating of "Moderate Buy" and a consensus target price of $51.00.
Check Out Our Latest Report on AXGN
Hedge Funds Weigh In On AxoGen
A number of large investors have recently made changes to their positions in the company. MCF Advisors LLC acquired a new stake in AxoGen during the 4th quarter worth approximately $30,000. Aquatic Capital Management LLC boosted its stake in AxoGen by 287.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider's stock valued at $31,000 after purchasing an additional 1,269 shares during the period. Arax Advisory Partners grew its holdings in AxoGen by 362.4% in the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider's stock valued at $34,000 after buying an additional 819 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in AxoGen in the 4th quarter valued at $36,000. Finally, Kestra Advisory Services LLC bought a new position in AxoGen during the 4th quarter worth $39,000. Institutional investors own 80.29% of the company's stock.
About AxoGen
(
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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