Raymond James Financial Services Advisors Inc. Grows Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Raymond James Financial Services Advisors Inc. boosted its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,260 shares of the medical equipment provider’s stock after purchasing an additional 11,000 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in AxoGen were worth $630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Almanack Investment Partners LLC. purchased a new position in AxoGen during the 3rd quarter worth $27,000. Lazard Asset Management LLC raised its position in AxoGen by 1,282.6% during the 1st quarter. Lazard Asset Management LLC now owns 5,088 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 4,720 shares during the last quarter. SG Americas Securities LLC purchased a new position in AxoGen during the 3rd quarter worth $51,000. Tower Research Capital LLC TRC raised its position in AxoGen by 272.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,894 shares of the medical equipment provider’s stock worth $54,000 after buying an additional 7,969 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in AxoGen by 68.8% during the 2nd quarter. Osaic Holdings Inc. now owns 6,841 shares of the medical equipment provider’s stock worth $62,000 after buying an additional 2,788 shares during the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Insider Activity

In other news, insider Erick Wayne Devinney sold 4,578 shares of AxoGen stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $7.68, for a total value of $35,159.04. Following the completion of the sale, the insider now owns 165,661 shares of the company’s stock, valued at $1,272,276.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Michael Patrick Donovan sold 6,033 shares of AxoGen stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $7.68, for a total value of $46,333.44. Following the transaction, the vice president now owns 37,992 shares in the company, valued at $291,778.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Erick Wayne Devinney sold 4,578 shares of AxoGen stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $7.68, for a total value of $35,159.04. Following the completion of the transaction, the insider now owns 165,661 shares in the company, valued at approximately $1,272,276.48. The disclosure for this sale can be found here. Insiders sold a total of 111,201 shares of company stock valued at $928,054 over the last quarter. Company insiders own 7.21% of the company’s stock.

Wall Street Analysts Forecast Growth

AXGN has been the subject of a number of analyst reports. StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $12.00 price objective on shares of AxoGen in a research note on Friday, January 19th.

AxoGen Price Performance

Shares of NASDAQ:AXGN opened at $6.94 on Thursday. The company has a market cap of $303.21 million, a P/E ratio of -13.35 and a beta of 1.03. The company has a quick ratio of 2.14, a current ratio of 2.89 and a debt-to-equity ratio of 0.71. AxoGen, Inc. has a 52 week low of $3.45 and a 52 week high of $10.83. The business has a fifty day simple moving average of $8.74 and a 200-day simple moving average of $7.28.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Tuesday, March 5th. The medical equipment provider reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.11. The business had revenue of $42.92 million during the quarter, compared to the consensus estimate of $42.70 million. AxoGen had a negative return on equity of 22.38% and a negative net margin of 13.66%. Equities research analysts forecast that AxoGen, Inc. will post -0.46 EPS for the current year.

About AxoGen

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.