AxoGen (NASDAQ:AXGN) Cut to “Hold” at Wall Street Zen

AxoGen (NASDAQ:AXGN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently commented on AXGN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a report on Friday, May 29th. HC Wainwright upped their target price on shares of AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Canaccord Genuity Group upped their target price on shares of AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Zacks Research raised shares of AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Finally, Lake Street Capital upped their target price on shares of AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

AxoGen Stock Performance

NASDAQ AXGN opened at $42.80 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33. AxoGen has a 1 year low of $9.22 and a 1 year high of $45.83. The company has a market capitalization of $2.28 billion, a PE ratio of -66.88 and a beta of 1.12. The company has a fifty day moving average of $38.34 and a two-hundred day moving average of $33.96.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. The business had revenue of $61.46 million during the quarter, compared to analysts’ expectations of $57.85 million. As a group, analysts expect that AxoGen will post -0.37 earnings per share for the current year.

Insider Activity

In related news, Director Kathy Johnson Weiler sold 16,344 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $44.09, for a total transaction of $720,606.96. Following the completion of the transaction, the director directly owned 16,344 shares of the company’s stock, 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 link. Also, Director Amy Mcbride Wendell sold 1,647 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $42.60, for a total transaction of $70,162.20. Following the transaction, the director directly owned 93,826 shares of the company’s stock, valued at $3,996,987.60. This represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 34,262 shares of company stock valued at $1,440,250. Company insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its holdings in AxoGen by 142.7% during the third quarter. First Eagle Investment Management LLC now owns 431,843 shares of the medical equipment provider’s stock worth $7,704,000 after purchasing an additional 253,888 shares in the last quarter. Royce & Associates LP purchased a new position in AxoGen during the third quarter worth about $3,587,000. Stephens Investment Management Group LLC acquired a new position in AxoGen during the fourth quarter worth about $5,043,000. SG Americas Securities LLC grew its position in AxoGen by 459.9% during the fourth quarter. SG Americas Securities LLC now owns 65,480 shares of the medical equipment provider’s stock worth $2,143,000 after buying an additional 53,786 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in AxoGen by 7.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,379,849 shares of the medical equipment provider’s stock worth $45,162,000 after buying an additional 90,777 shares during the period. 80.29% of the stock is owned by hedge funds and other institutional investors.

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.