Wellington Management Group LLP Boosts Stock Holdings in AxoGen, Inc. $AXGN

Wellington Management Group LLP raised its stake in AxoGen, Inc. (NASDAQ:AXGN) by 44.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,391,654 shares of the medical equipment provider’s stock after acquiring an additional 427,089 shares during the period. Wellington Management Group LLP owned approximately 2.59% of AxoGen worth $64,280,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AXGN. Lisanti Capital Growth LLC purchased a new stake in shares of AxoGen in the second quarter worth about $4,183,000. Stephens Investment Management Group LLC purchased a new position in AxoGen during the 4th quarter valued at approximately $5,043,000. Edmond DE Rothschild Holding S.A. purchased a new position in AxoGen during the 2nd quarter valued at approximately $1,469,000. Legato Capital Management LLC bought a new stake in AxoGen in the 4th quarter worth approximately $1,323,000. Finally, SummitTX Capital L.P. purchased a new stake in shares of AxoGen during the 1st quarter worth approximately $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 research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research report on Wednesday, August 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price target on shares of AxoGen in a research note on Wednesday, July 29th. Canaccord Genuity Group increased their price objective on shares of AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Zacks Research raised shares of AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Finally, Citizens Jmp boosted their target price on shares of AxoGen from $50.00 to $55.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.56.

Insider Activity

In related news, EVP Marc A. Began sold 67,500 shares of the business’s 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 completion of the transaction, the executive vice president owned 50,135 shares in the company, valued at $2,373,390.90. The trade was a 57.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Mcbride Wendell sold 13,353 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total value of $646,552.26. Following the completion of the transaction, the director directly owned 107,976 shares in the company, valued at $5,228,197.92. This trade represents a 11.01% decrease in their position. 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. Over the last 90 days, insiders have sold 95,003 shares of company stock valued at $4,482,997. 2.44% of the stock is currently owned by insiders.

AxoGen Trading Down 3.2%

Shares of AXGN opened at $48.30 on Thursday. The company’s fifty day simple moving average is $45.09 and its 200-day simple moving average is $39.90. The company has a market cap of $2.60 billion, a P/E ratio of -71.03 and a beta of 1.16. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07. AxoGen, Inc. has a twelve month low of $15.24 and a twelve month high of $52.91.

AxoGen (NASDAQ:AXGN) last issued 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 the consensus estimate of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. As a group, analysts expect that AxoGen, Inc. will post -0.45 EPS 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.