Advisors Asset Management Inc. grew its position in shares of AxoGen, Inc (NASDAQ:AXGN) by 60.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 159,187 shares of the medical equipment provider’s stock after purchasing an additional 60,169 shares during the quarter. Advisors Asset Management Inc. owned about 0.42% of AxoGen worth $7,999,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in AXGN. Schwab Charles Investment Management Inc. raised its holdings in AxoGen by 3.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 147,843 shares of the medical equipment provider’s stock worth $5,397,000 after purchasing an additional 5,604 shares during the last quarter. Northern Trust Corp raised its holdings in AxoGen by 0.5% during the 1st quarter. Northern Trust Corp now owns 332,844 shares of the medical equipment provider’s stock worth $12,149,000 after purchasing an additional 1,649 shares during the last quarter. BlackRock Inc. increased its stake in shares of AxoGen by 15.4% in the 1st quarter. BlackRock Inc. now owns 2,060,044 shares of the medical equipment provider’s stock valued at $75,190,000 after acquiring an additional 274,153 shares in the last quarter. UBS Group AG increased its stake in shares of AxoGen by 43.8% in the 1st quarter. UBS Group AG now owns 26,396 shares of the medical equipment provider’s stock valued at $964,000 after acquiring an additional 8,036 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of AxoGen by 74.4% in the 1st quarter. Barclays PLC now owns 7,660 shares of the medical equipment provider’s stock valued at $280,000 after acquiring an additional 3,269 shares in the last quarter. Hedge funds and other institutional investors own 82.95% of the company’s stock.
Several analysts have recently weighed in on AXGN shares. BidaskClub lowered shares of AxoGen from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Cantor Fitzgerald reiterated a “buy” rating and issued a $45.00 price objective on shares of AxoGen in a research note on Thursday, August 9th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $70.00 price objective on shares of AxoGen in a research note on Tuesday, June 26th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $44.67.
AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Wednesday, August 1st. The medical equipment provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $20.58 million during the quarter, compared to the consensus estimate of $21.25 million. AxoGen had a negative net margin of 24.96% and a negative return on equity of 26.50%. The business’s revenue was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) EPS. On average, analysts expect that AxoGen, Inc will post -0.61 earnings per share for the current fiscal year.
In other AxoGen news, Director Amy Mcbride Wendell purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was acquired at an average price of $36.89 per share, for a total transaction of $184,450.00. Following the purchase, the director now owns 18,333 shares of the company’s stock, valued at approximately $676,304.37. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.86% of the company’s stock.
AxoGen Company Profile
AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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