Invesco Ltd. Has $7.08 Million Stock Position in AxoGen, Inc. $AXGN

Invesco Ltd. grew its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 2,124.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 382,429 shares of the medical equipment provider’s stock after acquiring an additional 365,237 shares during the quarter. Invesco Ltd. owned 0.84% of AxoGen worth $7,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AXGN. LPL Financial LLC bought a new stake in shares of AxoGen during the 4th quarter worth approximately $210,000. Wells Fargo & Company MN raised its stake in shares of AxoGen by 26.0% during the 4th quarter. Wells Fargo & Company MN now owns 32,760 shares of the medical equipment provider’s stock worth $540,000 after purchasing an additional 6,753 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of AxoGen during the 4th quarter worth approximately $363,000. Barclays PLC raised its stake in shares of AxoGen by 6.9% during the 4th quarter. Barclays PLC now owns 77,003 shares of the medical equipment provider’s stock worth $1,269,000 after purchasing an additional 4,967 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of AxoGen by 13.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider’s stock worth $12,735,000 after purchasing an additional 91,984 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

AxoGen Stock Up 9.6%

AXGN opened at $16.21 on Wednesday. The company has a current ratio of 4.14, a quick ratio of 2.67 and a debt-to-equity ratio of 0.59. The stock has a market cap of $745.82 million, a PE ratio of -162.08 and a beta of 1.00. The stock’s fifty day simple moving average is $12.62 and its 200 day simple moving average is $14.43. AxoGen, Inc. has a 1-year low of $9.22 and a 1-year high of $21.00.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AXGN. Canaccord Genuity Group dropped their price objective on AxoGen from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen upgraded AxoGen from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $26.00.

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.