Raymond James Financial Inc. Has $4.70 Million Stock Position in AxoGen, Inc. $AXGN

Raymond James Financial Inc. decreased its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 8.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 254,129 shares of the medical equipment provider’s stock after selling 22,071 shares during the period. Raymond James Financial Inc. owned 0.56% of AxoGen worth $4,701,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Informed Momentum Co LLC lifted its position in shares of AxoGen by 558.7% during the first quarter. Informed Momentum Co LLC now owns 240,737 shares of the medical equipment provider’s stock worth $4,454,000 after purchasing an additional 204,190 shares in the last quarter. Nuveen LLC acquired a new position in AxoGen during the 1st quarter worth $5,668,000. Invesco Ltd. lifted its holdings in AxoGen by 2,124.5% during the 1st quarter. Invesco Ltd. now owns 382,429 shares of the medical equipment provider’s stock worth $7,075,000 after buying an additional 365,237 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in AxoGen by 17.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 339,711 shares of the medical equipment provider’s stock worth $6,285,000 after buying an additional 50,966 shares in the last quarter. Finally, Swiss National Bank acquired a new position in shares of AxoGen during the first quarter valued at $1,498,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Canaccord Genuity Group cut their target price on shares of AxoGen from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $26.00.

AxoGen Trading Up 3.8%

AXGN opened at $15.98 on Friday. The firm has a market cap of $735.24 million, a PE ratio of -159.78 and a beta of 1.03. AxoGen, Inc. has a twelve month low of $9.22 and a twelve month high of $21.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.67 and a current ratio of 4.14. The firm’s fifty day moving average is $13.58 and its two-hundred day moving average is $14.35.

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.