MFG Wealth Management Inc. Takes $1.20 Million Position in AxoGen, Inc. $AXGN

MFG Wealth Management Inc. purchased a new stake in shares of AxoGen, Inc. (NASDAQ:AXGN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,876 shares of the medical equipment provider’s stock, valued at approximately $1,195,000.

Other large investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC bought a new stake in AxoGen during the fourth quarter valued at $30,000. Arax Advisory Partners lifted its position in shares of AxoGen by 362.4% in the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 819 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of AxoGen in the 4th quarter worth about $36,000. Kestra Advisory Services LLC acquired a new position in shares of AxoGen in the 4th quarter valued at about $39,000. Finally, KBC Group NV acquired a new position in shares of AxoGen in the 1st quarter valued at about $41,000. 80.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AXGN shares. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price objective on shares of AxoGen in a research note on Wednesday, July 29th. HC Wainwright lifted their target price on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Lake Street Capital upped their target price on AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Truist Financial set a $55.00 price target on AxoGen in a research report on Thursday, July 30th. Finally, Zacks Research raised AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.00.

AxoGen Trading Up 4.7%

AxoGen stock opened at $46.43 on Friday. 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 firm has a 50-day moving average price of $42.64 and a two-hundred day moving average price of $37.87. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -68.28 and a beta of 1.11. AxoGen, Inc. has a 52-week low of $13.64 and a 52-week high of $46.95.

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

AxoGen 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.