Cetera Advisor Networks LLC trimmed its holdings in AxoGen, Inc (NASDAQ:AXGN) by 30.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,846 shares of the medical equipment provider’s stock after selling 5,992 shares during the quarter. Cetera Advisor Networks LLC’s holdings in AxoGen were worth $291,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in AxoGen by 3.6% in the 4th quarter. BlackRock Inc. now owns 2,597,540 shares of the medical equipment provider’s stock worth $53,067,000 after purchasing an additional 91,213 shares in the last quarter. Vanguard Group Inc. lifted its stake in AxoGen by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,585,119 shares of the medical equipment provider’s stock worth $58,412,000 after purchasing an additional 74,226 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in AxoGen by 11.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,224,827 shares of the medical equipment provider’s stock worth $25,024,000 after purchasing an additional 121,856 shares in the last quarter. Baillie Gifford & Co. lifted its stake in AxoGen by 54.0% in the 1st quarter. Baillie Gifford & Co. now owns 980,700 shares of the medical equipment provider’s stock worth $20,654,000 after purchasing an additional 343,900 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its stake in AxoGen by 8.3% in the 1st quarter. Peregrine Capital Management LLC now owns 470,767 shares of the medical equipment provider’s stock worth $9,914,000 after purchasing an additional 36,205 shares in the last quarter. 78.21% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP David K. Hansen sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $22.63, for a total transaction of $452,600.00. Following the completion of the sale, the vice president now owns 25,588 shares in the company, valued at approximately $579,056.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.86% of the stock is owned by company insiders.
Shares of NASDAQ AXGN opened at $21.33 on Friday. The company has a market cap of $843.94 million, a PE ratio of -39.50 and a beta of 0.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.83 and a quick ratio of 8.03. AxoGen, Inc has a 1 year low of $14.13 and a 1 year high of $56.85.
AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.01). The firm had revenue of $23.30 million for the quarter, compared to analyst estimates of $22.33 million. AxoGen had a negative return on equity of 15.58% and a negative net margin of 29.19%. The firm’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.11) EPS. On average, sell-side analysts expect that AxoGen, Inc will post -0.68 EPS for the current fiscal year.
A number of analysts have recently issued reports on the stock. BidaskClub upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. BTIG Research upgraded shares of AxoGen from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a report on Monday, March 25th. Cantor Fitzgerald set a $26.00 price target on shares of AxoGen and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, ValuEngine upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $38.00.
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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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