Allianz Asset Management GmbH increased its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 260,484 shares of the medical equipment provider’s stock after purchasing an additional 2,979 shares during the period. Allianz Asset Management GmbH owned approximately 0.78% of AxoGen worth $5,040,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in AxoGen by 80.7% during the second quarter. Bank of New York Mellon Corp now owns 160,354 shares of the medical equipment provider’s stock valued at $2,685,000 after buying an additional 71,609 shares during the period. Bradley Foster & Sargent Inc. CT grew its position in AxoGen by 536.6% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 78,905 shares of the medical equipment provider’s stock valued at $1,322,000 after buying an additional 66,510 shares during the period. New York State Common Retirement Fund grew its position in AxoGen by 26.6% during the second quarter. New York State Common Retirement Fund now owns 31,400 shares of the medical equipment provider’s stock valued at $526,000 after buying an additional 6,599 shares during the period. Menta Capital LLC grew its position in AxoGen by 7.1% during the second quarter. Menta Capital LLC now owns 116,845 shares of the medical equipment provider’s stock valued at $1,957,000 after buying an additional 7,777 shares during the period. Finally, Citadel Advisors LLC bought a new stake in AxoGen during the second quarter valued at approximately $947,000. 66.00% of the stock is owned by hedge funds and other institutional investors.

AxoGen, Inc. (NASDAQ AXGN) opened at $28.05 on Thursday. AxoGen, Inc. has a 12-month low of $8.35 and a 12-month high of $28.70. The company has a debt-to-equity ratio of 1.93, a quick ratio of 2.95 and a current ratio of 3.55.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The business had revenue of $16.05 million during the quarter, compared to analyst estimates of $15.55 million. AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. AxoGen’s revenue was up 43.2% on a year-over-year basis. research analysts expect that AxoGen, Inc. will post -0.31 EPS for the current fiscal year.

In other AxoGen news, Director Jamie Mark Grooms sold 38,405 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $26.35, for a total value of $1,011,971.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Guido J. Neels sold 1,150,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.74, for a total transaction of $22,701,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,293,990 shares of company stock valued at $26,494,898. Company insiders own 9.33% of the company’s stock.

Several analysts recently issued reports on the stock. Jefferies Group assumed coverage on shares of AxoGen in a research report on Thursday, November 30th. They set a “buy” rating and a $35.00 target price for the company. Leerink Swann restated an “outperform” rating and set a $23.00 target price (up from $22.00) on shares of AxoGen in a research report on Saturday, September 30th. Wedbush restated a “buy” rating and set a $27.00 target price (up from $22.00) on shares of AxoGen in a research report on Tuesday, November 21st. Roth Capital restated a “buy” rating and set a $21.00 target price (up from $18.00) on shares of AxoGen in a research report on Tuesday, September 12th. Finally, Lake Street Capital boosted their target price on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $26.17.

ILLEGAL ACTIVITY WARNING: This piece was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2017/12/21/allianz-asset-management-gmbh-grows-stake-in-axogen-inc-axgn.html.

AxoGen Profile

AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company’s surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

Institutional Ownership by Quarter for AxoGen (NASDAQ:AXGN)

Receive News & Ratings for AxoGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AxoGen and related companies with MarketBeat.com's FREE daily email newsletter.