154,060 Shares in AxoGen, Inc. $AXGN Purchased by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in AxoGen, Inc. (NASDAQ:AXGN) in the second quarter, HoldingsChannel.com reports. The fund acquired 154,060 shares of the medical equipment provider’s stock, valued at approximately $7,116,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Lisanti Capital Growth LLC acquired a new stake in shares of AxoGen in the 2nd quarter valued at approximately $4,183,000. Stephens Investment Management Group LLC acquired a new position in AxoGen during the fourth quarter worth $5,043,000. Edmond DE Rothschild Holding S.A. purchased a new position in AxoGen in the second quarter worth $1,469,000. Legato Capital Management LLC purchased a new stake in shares of AxoGen during the 4th quarter worth $1,323,000. Finally, SummitTX Capital L.P. purchased a new stake in shares of AxoGen during the 1st quarter worth $7,769,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group increased their price target on shares of AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wall Street Zen raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Truist Financial started coverage on shares of AxoGen in a research report on Wednesday, August 26th. They set a “buy” rating and a $60.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, August 26th. Finally, Citigroup restated a “market outperform” rating on shares of AxoGen in a 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

Insider Buying and Selling

In other AxoGen news, EVP Marc A. Began sold 67,500 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the sale, the executive vice president owned 50,135 shares in the company, valued at approximately $2,373,390.90. This represents a 57.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Johnson Weiler sold 14,150 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $45.30, for a total value of $640,995.00. 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. Insiders sold 95,003 shares of company stock worth $4,482,997 in the last ninety days. Insiders own 2.44% of the company’s stock.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $48.30 on Thursday. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $45.09 and its 200 day moving average price is $39.90. AxoGen, Inc. has a 52 week low of $15.24 and a 52 week high of $52.91. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -71.03 and a beta of 1.16.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (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 company had revenue of $69.73 million during the quarter, compared to analysts’ expectations of $67.10 million. As a group, research analysts forecast that AxoGen, Inc. will post -0.45 earnings per share for the current fiscal year.

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.