Principal Financial Group Inc. Grows Stock Holdings in AxoGen, Inc. $AXGN

Principal Financial Group Inc. grew its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 69.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 51,130 shares of the medical equipment provider’s stock after acquiring an additional 21,002 shares during the quarter. Principal Financial Group Inc.’s holdings in AxoGen were worth $912,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in shares of AxoGen in the 3rd quarter valued at $27,000. State of Alaska Department of Revenue acquired a new stake in AxoGen during the 3rd quarter worth $43,000. Tower Research Capital LLC TRC grew its holdings in shares of AxoGen by 189.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider’s stock worth $55,000 after buying an additional 3,327 shares during the last quarter. AlphaQuest LLC raised its stake in shares of AxoGen by 882.2% during the second quarter. AlphaQuest LLC now owns 6,276 shares of the medical equipment provider’s stock worth $68,000 after purchasing an additional 5,637 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of AxoGen during the second quarter worth $69,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Insider Activity at AxoGen

In other news, Director Amy Mcbride Wendell sold 43,684 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $29.31, for a total transaction of $1,280,378.04. Following the completion of the sale, the director owned 93,826 shares of the company’s stock, valued at approximately $2,750,040.06. This trade represents a 31.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Thomas sold 21,399 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $29.61, for a total transaction of $633,624.39. Following the transaction, the director owned 13,528 shares in the company, valued at $400,564.08. This trade represents a 61.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 301,680 shares of company stock worth $9,174,052 over the last ninety days. Company insiders own 2.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AXGN. Raymond James Financial restated an “outperform” rating and issued a $36.00 price target on shares of AxoGen in a research note on Thursday, December 4th. Mizuho began coverage on AxoGen in a report on Monday, December 1st. They set an “outperform” rating and a $40.00 target price on the stock. Jefferies Financial Group raised their price target on AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. HC Wainwright boosted their price target on AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Citizens Jmp set a $34.00 target price on shares of AxoGen in a research report on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.75.

AxoGen Stock Performance

AxoGen stock opened at $35.25 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64. AxoGen, Inc. has a 12-month low of $9.22 and a 12-month high of $36.00. The firm’s fifty day moving average price is $32.71 and its 200 day moving average price is $24.19. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -705.00 and a beta of 1.00.

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.