Erick Wayne Devinney Sells 5,221 Shares of AxoGen (NASDAQ:AXGN) Stock

AxoGen, Inc. (NASDAQ:AXGN) insider Erick Wayne Devinney sold 5,221 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $32.84, for a total transaction of $171,457.64. Following the transaction, the insider owned 262,781 shares in the company, valued at approximately $8,629,728.04. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

AxoGen Trading Up 0.7%

NASDAQ:AXGN opened at $31.16 on Friday. AxoGen, Inc. has a one year low of $9.22 and a one year high of $36.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.31 and a current ratio of 5.11. The firm has a market cap of $1.62 billion, a P/E ratio of -91.64 and a beta of 0.98. The firm has a 50-day simple moving average of $32.62 and a 200-day simple moving average of $26.56.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $59.90 million during the quarter, compared to analysts’ expectations of $59.90 million. AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%. Equities analysts anticipate that AxoGen, Inc. will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On AxoGen

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of AxoGen during the 4th quarter valued at $52,000. Invesco Ltd. grew its stake in AxoGen by 86.1% during the 4th quarter. Invesco Ltd. now owns 189,345 shares of the medical equipment provider’s stock worth $6,197,000 after buying an additional 87,622 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in AxoGen by 41.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,857 shares of the medical equipment provider’s stock worth $503,000 after buying an additional 4,664 shares during the last quarter. XTX Topco Ltd acquired a new position in AxoGen during the 4th quarter valued at about $228,000. Finally, Uniplan Investment Counsel Inc. increased its position in AxoGen by 7.5% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 170,620 shares of the medical equipment provider’s stock valued at $5,584,000 after buying an additional 11,882 shares in the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AXGN has been the topic of several recent research reports. HC Wainwright increased their target price on AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Citizens Jmp upped their price objective on AxoGen from $34.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of AxoGen in a research note on Monday, December 29th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $41.00 target price on shares of AxoGen in a report on Monday, February 23rd. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AxoGen presently has an average rating of “Moderate Buy” and an average price target of $39.38.

About AxoGen

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.