AxoGen, Inc. $AXGN Stock Purchased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC grew its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 21.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,420 shares of the medical equipment provider’s stock after acquiring an additional 19,855 shares during the period. Lisanti Capital Growth LLC’s holdings in AxoGen were worth $4,629,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of AxoGen during the second quarter worth approximately $204,123,000. Artemis Investment Management LLP grew its position in shares of AxoGen by 27.5% in the third quarter. Artemis Investment Management LLP now owns 1,780,992 shares of the medical equipment provider’s stock valued at $74,659,000 after purchasing an additional 384,200 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of AxoGen by 44.3% during the second quarter. Wellington Management Group LLP now owns 1,391,654 shares of the medical equipment provider’s stock worth $64,280,000 after purchasing an additional 427,089 shares during the period. Bamco Inc. NY bought a new position in shares of AxoGen during the second quarter worth approximately $34,190,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of AxoGen during the second quarter worth approximately $31,863,000. Institutional investors own 80.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AXGN. Weiss Ratings reissued a “sell (d-)” rating on shares of AxoGen in a report on Wednesday, August 26th. Leerink Partners upped their price objective on AxoGen from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. Wall Street Zen lowered AxoGen from a “strong-buy” rating to a “buy” rating in a report on Sunday. Mizuho set a $65.00 price objective on AxoGen in a research report on Wednesday, October 28th. Finally, Bank of America started coverage on AxoGen in a report on Monday, October 12th. They set a “buy” rating and a $52.00 target price for the company. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.92.

AxoGen Stock Up 15.2%

Shares of AXGN opened at $58.63 on Thursday. AxoGen, Inc. has a 12 month low of $23.00 and a 12 month high of $59.72. The firm’s 50 day moving average is $42.95 and its 200-day moving average is $40.23. The stock has a market capitalization of $3.50 billion, a PE ratio of -90.20 and a beta of 1.21. The company has a current ratio of 12.02, a quick ratio of 10.67 and a debt-to-equity ratio of 0.04.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. The business had revenue of $75.83 million during the quarter, compared to analysts’ expectations of $73.45 million. AxoGen had a negative return on equity of 5.35% and a negative net margin of 11.96%. Equities research analysts forecast that AxoGen, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling

In other AxoGen news, Director Joseph Tyndall sold 3,500 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $49.70, for a total transaction of $173,950.00. Following the transaction, the director owned 10,650 shares in the company, valued at $529,305. This trade represents a 24.73% decrease in their position. The transaction 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. 2.44% of the stock is currently owned by company insiders.

About AxoGen

AxoGen, Inc. is a medical technology company focused on repairing peripheral nerve injuries—damage to nerves outside the brain and spinal cord. Its products are used by surgeons in procedures intended to restore nerve function and sensation. The company’s offerings include Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves, and Axoguard products designed to protect, connect or cap nerves during repair. Axogen also provides education and support for healthcare professionals who use its nerve-repair solutions.