AxoGen (NASDAQ:AXGN) Director Sells $173,950.00 in Stock

AxoGen, Inc. (NASDAQ:AXGN) Director Joseph Tyndall sold 3,500 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $49.70, for a total transaction of $173,950.00. Following the sale, the director directly owned 10,650 shares of the company’s stock, valued at approximately $529,305. This represents a 24.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Price Performance

AXGN opened at $48.28 on Monday. The company has a quick ratio of 5.04, a current ratio of 6.60 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $45.21 and its 200 day moving average price is $40.10. AxoGen, Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $52.91. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -71.00 and a beta of 1.16.

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

Wall Street Analyst Weigh In

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

Institutional Trading of AxoGen

Several hedge funds have recently added to or reduced their stakes in AXGN. Royal Bank of Canada grew its stake in shares of AxoGen by 14.2% in the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after purchasing an additional 4,723 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of AxoGen by 45.3% during the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after purchasing an additional 7,453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of AxoGen by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after purchasing an additional 1,057 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in AxoGen by 104,810.0% in the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after purchasing an additional 10,481 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in AxoGen by 37.3% in the second quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock worth $4,113,000 after purchasing an additional 103,072 shares during the period. Institutional investors own 80.29% of the company’s stock.

AxoGen Company 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.