Parkman Healthcare Partners LLC Buys New Shares in AxoGen, Inc. (NASDAQ:AXGN)

Parkman Healthcare Partners LLC acquired a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 412,888 shares of the medical equipment provider’s stock, valued at approximately $5,789,000. Parkman Healthcare Partners LLC owned approximately 0.94% of AxoGen at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Sentry Investment Management LLC grew its position in shares of AxoGen by 9.3% during the third quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider’s stock worth $243,000 after acquiring an additional 1,483 shares during the last quarter. Quest Partners LLC lifted its position in AxoGen by 23,066.7% during the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 2,076 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of AxoGen by 8.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock worth $240,000 after purchasing an additional 2,204 shares during the last quarter. Rhumbline Advisers increased its stake in AxoGen by 6.2% in the 2nd quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock valued at $421,000 after buying an additional 3,380 shares during the period. Finally, nVerses Capital LLC purchased a new position in AxoGen during the 3rd quarter worth $56,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Stock Performance

Shares of AXGN opened at $14.44 on Wednesday. AxoGen, Inc. has a 1 year low of $5.55 and a 1 year high of $15.90. The company’s 50 day simple moving average is $13.70 and its 200 day simple moving average is $11.03. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The company has a market capitalization of $635.48 million, a price-to-earnings ratio of -45.13 and a beta of 1.06.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com raised AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. JMP Securities boosted their target price on AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AxoGen currently has an average rating of “Buy” and an average price target of $15.00.

AxoGen Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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 peripheral nerves; 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; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.