Principal Financial Group Inc. Makes New Investment in AxoGen, Inc. (NASDAQ:AXGN)

Principal Financial Group Inc. acquired a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,772 shares of the medical equipment provider’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Light Asset Management LLC increased its holdings in AxoGen by 336.6% in the second quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock valued at $24,211,000 after buying an additional 2,578,147 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of AxoGen by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after acquiring an additional 31,612 shares during the last quarter. State Street Corp raised its position in shares of AxoGen by 11.9% during the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock worth $12,571,000 after acquiring an additional 95,051 shares in the last quarter. Divisadero Street Capital Management LP lifted its stake in AxoGen by 587.2% during the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock worth $4,974,000 after purchasing an additional 587,024 shares during the last quarter. Finally, Parkman Healthcare Partners LLC purchased a new stake in AxoGen during the third quarter worth approximately $5,789,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Price Performance

AXGN stock opened at $14.56 on Tuesday. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $640.76 million, a P/E ratio of -45.50 and a beta of 1.01. The business has a 50 day simple moving average of $14.51 and a 200-day simple moving average of $12.48. AxoGen, Inc. has a twelve month low of $5.55 and a twelve month high of $17.23.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $15.00.

AxoGen Company 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.