Bessemer Group Inc. Buys Shares of 810,951 AxoGen, Inc. $AXGN

Bessemer Group Inc. purchased a new position in shares of AxoGen, Inc. (NASDAQ:AXGN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 810,951 shares of the medical equipment provider’s stock, valued at approximately $14,468,000.

A number of other large investors also recently modified their holdings of AXGN. Brown Capital Management LLC acquired a new stake in AxoGen in the third quarter worth about $11,500,000. Principal Financial Group Inc. increased its stake in AxoGen by 69.7% during the 3rd quarter. Principal Financial Group Inc. now owns 51,130 shares of the medical equipment provider’s stock valued at $912,000 after buying an additional 21,002 shares during the period. AlphaQuest LLC raised its position in shares of AxoGen by 44.3% during the 3rd quarter. AlphaQuest LLC now owns 9,055 shares of the medical equipment provider’s stock worth $162,000 after buying an additional 2,779 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of AxoGen by 10.0% in the 3rd quarter. Arizona State Retirement System now owns 12,801 shares of the medical equipment provider’s stock worth $228,000 after acquiring an additional 1,164 shares during the period. Finally, Cannon Global Investment Management LLC bought a new position in shares of AxoGen in the third quarter valued at approximately $303,000. 80.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other AxoGen news, Director Amy Mcbride Wendell sold 43,684 shares of AxoGen stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $29.31, for a total transaction of $1,280,378.04. Following the transaction, the director owned 93,826 shares of the company’s stock, valued at $2,750,040.06. The trade was a 31.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Marc A. Began sold 9,278 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $31.21, for a total transaction of $289,566.38. Following the completion of the sale, the executive vice president directly owned 31,507 shares of the company’s stock, valued at $983,333.47. This trade represents a 22.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 324,498 shares of company stock worth $9,721,948. Corporate insiders own 2.78% of the company’s stock.

AxoGen Stock Performance

Shares of AxoGen stock opened at $34.93 on Friday. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $36.00. The company has a quick ratio of 2.64, a current ratio of 4.09 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.61 billion, a PE ratio of -698.60 and a beta of 1.00. The business has a fifty day simple moving average of $32.13 and a 200-day simple moving average of $22.96.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AXGN shares. Weiss Ratings reissued a “sell (e+)” rating on shares of AxoGen in a report on Monday, December 29th. Lake Street Capital boosted their price objective on AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Wall Street Zen upgraded AxoGen from a “buy” rating to a “strong-buy” rating in a report on Friday, January 23rd. HC Wainwright lifted their target price on AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Citizens Jmp upped their price target on shares of AxoGen from $26.00 to $34.00 and gave the company a “market outperform” rating in a report on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, AxoGen has an average rating of “Moderate Buy” and an average target price of $35.56.

AxoGen Profile

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.