AxoGen (NASDAQ:AXGN) Director Amy Mcbride Wendell Sells 13,353 Shares of Stock

AxoGen, Inc. (NASDAQ:AXGN) Director Amy Mcbride Wendell sold 13,353 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total transaction of $646,552.26. Following the completion of the transaction, the director owned 107,976 shares of the company’s stock, valued at $5,228,197.92. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AxoGen Trading Up 2.5%

Shares of NASDAQ:AXGN opened at $49.67 on Thursday. AxoGen, Inc. has a 12 month low of $13.64 and a 12 month high of $49.90. 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 company’s fifty day simple moving average is $43.19 and its 200 day simple moving average is $38.27. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -73.04 and a beta of 1.11.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, hitting 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 firm had revenue of $69.73 million during the quarter, compared to analyst estimates of $67.10 million. As a group, research analysts forecast that AxoGen, Inc. will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On AxoGen

A number of large investors have recently modified their holdings of AXGN. Stephens Investment Management Group LLC bought a new stake in AxoGen during the fourth quarter worth about $5,043,000. Legato Capital Management LLC acquired a new position in AxoGen during the fourth quarter valued at approximately $1,323,000. Bessemer Group Inc. grew its stake in AxoGen by 41.9% in the first quarter. Bessemer Group Inc. now owns 660,553 shares of the medical equipment provider’s stock valued at $21,885,000 after purchasing an additional 194,949 shares in the last quarter. SummitTX Capital L.P. bought a new position in AxoGen in the first quarter valued at approximately $7,769,000. Finally, Westover Capital Advisors LLC acquired a new position in shares of AxoGen during the 4th quarter worth approximately $500,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price objective on shares of AxoGen in a report on Wednesday, July 29th. Zacks Research upgraded AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Canaccord Genuity Group upped their price target on AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 price target on shares of AxoGen in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned 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 $51.00.

About AxoGen

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.