Swiss National Bank Invests $1.37 Million in AxoGen, Inc. (AXGN)
Swiss National Bank bought a new stake in AxoGen, Inc. (NASDAQ:AXGN) in the 4th quarter, HoldingsChannel reports. The firm bought 48,300 shares of the medical equipment provider’s stock, valued at approximately $1,367,000.
Several other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in shares of AxoGen in the 4th quarter valued at $271,000. Essex Investment Management Co. LLC boosted its stake in AxoGen by 3.9% during the 4th quarter. Essex Investment Management Co. LLC now owns 202,636 shares of the medical equipment provider’s stock worth $5,735,000 after purchasing an additional 7,622 shares during the period. Birchview Capital LP acquired a new stake in AxoGen during the 4th quarter worth $991,000. Aperio Group LLC acquired a new stake in AxoGen during the 4th quarter worth $412,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in AxoGen by 33.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 142,239 shares of the medical equipment provider’s stock worth $4,026,000 after purchasing an additional 35,550 shares during the period. Institutional investors and hedge funds own 68.01% of the company’s stock.
A number of brokerages recently weighed in on AXGN. William Blair began coverage on shares of AxoGen in a research note on Monday, February 5th. They set an “outperform” rating for the company. Leerink Swann increased their price target on shares of AxoGen from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 21st. JMP Securities increased their price target on shares of AxoGen from $27.00 to $34.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 1st. Lake Street Capital increased their price target on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, November 21st. Finally, Wedbush reiterated a “buy” rating and set a $27.00 price target (up previously from $22.00) on shares of AxoGen in a research note on Tuesday, November 21st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $31.71.
AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Wednesday, February 28th. The medical equipment provider reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.02. The company had revenue of $16.97 million during the quarter, compared to the consensus estimate of $16.38 million. AxoGen had a negative net margin of 17.29% and a negative return on equity of 70.63%. AxoGen’s quarterly revenue was up 48.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) EPS. analysts forecast that AxoGen, Inc. will post -0.28 earnings per share for the current year.
In other AxoGen news, CFO Jamie Mark Grooms sold 10,300 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $26.21, for a total transaction of $269,963.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 169,407 shares of company stock valued at $4,593,013. 9.33% of the stock is owned by insiders.
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys 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.
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