Cortina Asset Management LLC trimmed its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 487,740 shares of the medical equipment provider’s stock after selling 4,368 shares during the period. Cortina Asset Management LLC owned about 1.46% of AxoGen worth $9,438,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Thompson Davis & CO. Inc. boosted its position in AxoGen by 575.0% during the second quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 5,750 shares during the period. Bank of America Corp DE boosted its position in AxoGen by 8.7% during the first quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock valued at $106,000 after buying an additional 814 shares during the period. Parametric Portfolio Associates LLC boosted its position in AxoGen by 0.9% during the first quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 93 shares during the period. Neuberger Berman Group LLC purchased a new stake in AxoGen during the second quarter valued at about $201,000. Finally, Nationwide Fund Advisors boosted its position in AxoGen by 5.5% during the second quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock valued at $249,000 after buying an additional 774 shares during the period. Institutional investors and hedge funds own 67.89% of the company’s stock.
Several research firms have issued reports on AXGN. Lake Street Capital upped their price target on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday. Wedbush restated an “outperform” rating and set a $27.00 price target (up from $22.00) on shares of AxoGen in a research report on Tuesday. Leerink Swann upped their price target on shares of AxoGen from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, November 2nd. Roth Capital restated a “buy” rating and set a $21.00 price target (up from $18.00) on shares of AxoGen in a research report on Tuesday, September 12th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $18.00 price target on shares of AxoGen in a research report on Monday, August 21st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.60.
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AxoGen, Inc. (AXGN) traded up $0.70 during trading on Tuesday, hitting $24.30. 322,000 shares of the stock were exchanged, compared to its average volume of 208,513. The company has a quick ratio of 2.95, a current ratio of 3.55 and a debt-to-equity ratio of 1.93. AxoGen, Inc. has a one year low of $8.05 and a one year high of $25.15.
AxoGen (NASDAQ:AXGN) last posted its earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The company had revenue of $16.05 million during the quarter, compared to analyst estimates of $15.55 million. AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. The firm’s quarterly revenue was up 43.2% on a year-over-year basis. sell-side analysts predict that AxoGen, Inc. will post -0.31 earnings per share for the current year.
In other news, Director Robert James Rudelius sold 16,143 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $18.00, for a total transaction of $290,574.00. Following the completion of the sale, the director now directly owns 43,273 shares in the company, valued at $778,914. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 9.33% of the company’s stock.
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair 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 injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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