AxoGen, Inc. $AXGN Shares Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC lifted its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 142.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 431,843 shares of the medical equipment provider’s stock after purchasing an additional 253,888 shares during the period. First Eagle Investment Management LLC’s holdings in AxoGen were worth $7,704,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AXGN. First Light Asset Management LLC grew its stake in shares of AxoGen by 1.2% in the second quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock worth $49,142,000 after acquiring an additional 55,028 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in AxoGen by 183.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after purchasing an additional 1,250,968 shares during the period. Soleus Capital Management L.P. grew its stake in AxoGen by 0.9% during the 2nd quarter. Soleus Capital Management L.P. now owns 1,459,395 shares of the medical equipment provider’s stock worth $15,834,000 after purchasing an additional 13,278 shares in the last quarter. Wasatch Advisors LP increased its holdings in AxoGen by 85.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider’s stock worth $15,557,000 after purchasing an additional 659,149 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in AxoGen by 26.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,072 shares of the medical equipment provider’s stock worth $22,997,000 after purchasing an additional 265,950 shares during the period. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Trading Down 2.7%

NASDAQ AXGN opened at $29.83 on Wednesday. The firm’s fifty day moving average price is $32.98 and its 200 day moving average price is $25.44. AxoGen, Inc. has a 12 month low of $9.22 and a 12 month high of $36.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.11 and a quick ratio of 3.31. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -87.73 and a beta of 0.98.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $59.90 million during the quarter, compared to analysts’ expectations of $59.90 million. AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. On average, sell-side analysts expect that AxoGen, Inc. will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on AxoGen in a research note on Thursday, February 19th. They issued an “overweight” rating and a $40.00 price objective for the company. Citigroup reiterated an “outperform” rating on shares of AxoGen in a research note on Tuesday, February 24th. Jefferies Financial Group increased their price objective on shares of AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Raymond James Financial restated an “outperform” rating and issued a $41.00 price objective on shares of AxoGen in a report on Monday, February 23rd. Finally, Mizuho started coverage on shares of AxoGen in a research note on Monday, December 1st. They set an “outperform” rating and a $40.00 target price for the company. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

Insider Activity

In other AxoGen news, Director Amy Mcbride Wendell sold 43,684 shares of AxoGen stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $29.31, for a total transaction of $1,280,378.04. Following the transaction, the director owned 93,826 shares of the company’s stock, valued at $2,750,040.06. The trade was a 31.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Johnson sold 23,693 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $31.24, for a total value of $740,169.32. Following the completion of the sale, the director owned 13,141 shares of the company’s stock, valued at approximately $410,524.84. This represents a 64.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 301,680 shares of company stock worth $9,174,052 over the last ninety days. 2.78% of the stock is owned by corporate insiders.

AxoGen 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.