Hsbc Holdings PLC Takes $1.40 Million Position in AxoGen, Inc. $AXGN

Hsbc Holdings PLC acquired a new stake in shares of AxoGen, Inc. (NASDAQ:AXGN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,009 shares of the medical equipment provider’s stock, valued at approximately $1,397,000.

Several other institutional investors have also bought and sold shares of the stock. Canada Pension Plan Investment Board bought a new position in AxoGen in the 2nd quarter valued at about $203,000. Legal & General Group Plc bought a new stake in shares of AxoGen during the 2nd quarter worth about $7,116,000. The Manufacturers Life Insurance Company acquired a new stake in shares of AxoGen in the 2nd quarter worth approximately $1,219,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of AxoGen in the 2nd quarter worth approximately $3,100,000. Finally, Globeflex Capital L P bought a new position in shares of AxoGen in the second quarter valued at approximately $2,702,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. HC Wainwright raised their price objective on shares of AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of AxoGen in a research report on Wednesday, August 26th. Jefferies Financial Group restated a “buy” rating and issued a $55.00 target price on shares of AxoGen in a research report on Wednesday, July 29th. Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Zacks Research upgraded AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.56.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $50.76 on Tuesday. The firm has a 50-day moving average of $44.87 and a two-hundred day moving average of $39.67. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -74.65 and a beta of 1.11. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07. AxoGen, Inc. has a twelve month low of $15.24 and a twelve month high of $52.91.

AxoGen (NASDAQ:AXGN) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The business had revenue of $69.73 million for the quarter, compared to the consensus estimate of $67.10 million. As a group, analysts expect that AxoGen, Inc. will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AxoGen news, Director Kathy Johnson Weiler sold 14,150 shares of AxoGen stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $45.30, for a total value of $640,995.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marc A. Began sold 67,500 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $47.34, for a total value of $3,195,450.00. Following the completion of the transaction, the executive vice president directly owned 50,135 shares in the company, valued at $2,373,390.90. This represents a 57.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 95,003 shares of company stock worth $4,482,997. 2.44% of the stock is owned by insiders.

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.