SG Americas Securities LLC Lowers Holdings in AxoGen, Inc. $AXGN

SG Americas Securities LLC reduced its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 44.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 36,644 shares of the medical equipment provider’s stock after selling 28,836 shares during the period. SG Americas Securities LLC owned approximately 0.07% of AxoGen worth $1,214,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Royal Bank of Canada boosted its stake in shares of AxoGen by 14.2% in the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after buying an additional 4,723 shares during the last quarter. AQR Capital Management LLC raised its position in AxoGen by 45.3% during the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after acquiring an additional 7,453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in AxoGen by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after acquiring an additional 1,057 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in AxoGen by 104,810.0% in the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock valued at $194,000 after acquiring an additional 10,481 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in AxoGen by 37.3% in the second quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock valued at $4,113,000 after acquiring an additional 103,072 shares during the period. Hedge funds and other institutional investors own 80.29% of the company’s stock.

AxoGen Price Performance

Shares of AXGN opened at $45.89 on Friday. The firm has a market cap of $2.44 billion, a P/E ratio of -71.70 and a beta of 1.09. AxoGen, Inc. has a 12 month low of $10.71 and a 12 month high of $46.95. The stock’s 50 day moving average is $42.32 and its two-hundred day moving average is $36.12. The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08.

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

Insider Buying and Selling

In other news, Director Kathy Johnson Weiler sold 16,344 shares of AxoGen stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $44.09, for a total value of $720,606.96. Following the sale, the director owned 16,344 shares in the company, valued at $720,606.96. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Johnson sold 11,050 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $43.26, for a total transaction of $478,023.00. Following the sale, the director directly owned 11,050 shares of the company’s stock, valued at $478,023. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 29,041 shares of company stock valued at $1,268,792. 2.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AXGN shares. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 price objective on shares of AxoGen in a research note on Wednesday, April 29th. Wall Street Zen upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company increased their price target on shares of AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Lake Street Capital raised their price target on shares of AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Citizens Jmp lifted their price objective on shares of AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, AxoGen presently has an average rating of “Moderate Buy” and a consensus target price of $46.50.

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.