Public Employees Retirement System of Ohio Invests $1.72 Million in AxoGen, Inc. $AXGN

Public Employees Retirement System of Ohio acquired a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 51,918 shares of the medical equipment provider’s stock, valued at approximately $1,720,000. Public Employees Retirement System of Ohio owned approximately 0.10% of AxoGen as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. First Light Asset Management LLC raised its stake in AxoGen by 1.2% during the second quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock worth $49,142,000 after acquiring an additional 55,028 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of AxoGen by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock worth $93,934,000 after acquiring an additional 190,557 shares during the last quarter. Morgan Stanley boosted its stake in shares of AxoGen by 6.5% in the 4th quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock valued at $84,668,000 after purchasing an additional 157,029 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of AxoGen by 183.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after purchasing an additional 1,250,968 shares in the last quarter. Finally, Wasatch Advisors LP boosted its stake in shares of AxoGen by 101.1% in the 1st quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock valued at $61,534,000 after purchasing an additional 933,778 shares in the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AxoGen

In related news, Director Kathy Johnson Weiler sold 16,344 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total value of $720,606.96. Following the completion of the sale, the director directly owned 16,344 shares in the company, valued at $720,606.96. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Johnson sold 11,050 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $43.26, for a total value of $478,023.00. Following the completion of the sale, the director owned 11,050 shares of the company’s stock, valued at $478,023. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 29,041 shares of company stock worth $1,268,792. 2.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AXGN shares. Zacks Research raised shares of AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Raymond James Financial restated an “outperform” rating and issued a $48.00 target price on shares of AxoGen in a research report on Wednesday, April 29th. Lake Street Capital boosted their target price on shares of AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Canaccord Genuity Group upped their price target on shares of AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday. Finally, HC Wainwright increased their price target on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday. Nine equities research 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’s stock. Based on data from MarketBeat, AxoGen has a consensus rating of “Moderate Buy” and an average target price of $51.00.

AxoGen Stock Performance

AxoGen stock opened at $42.21 on Monday. The business has a 50 day moving average of $42.13 and a 200-day moving average of $37.41. AxoGen, Inc. has a 1 year low of $12.39 and a 1 year high of $46.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04. The company has a market capitalization of $2.27 billion, a P/E ratio of -62.07 and a beta of 1.11.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $69.73 million during the quarter, compared to analyst estimates of $67.10 million. On average, equities research analysts predict that AxoGen, Inc. will post -0.37 earnings per share for the current 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.