Principal Financial Group Inc. Purchases 21,002 Shares of AxoGen, Inc. $AXGN

Principal Financial Group Inc. raised its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 69.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,130 shares of the medical equipment provider’s stock after acquiring an additional 21,002 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of AxoGen worth $912,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the company. Royal Bank of Canada increased its holdings in AxoGen by 14.2% during the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after purchasing an additional 4,723 shares during the period. AQR Capital Management LLC raised its holdings in shares of AxoGen by 45.3% in the 1st quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after purchasing an additional 7,453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of AxoGen by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock worth $466,000 after purchasing an additional 1,057 shares during the period. Jones Financial Companies Lllp boosted its position in AxoGen by 104,810.0% during the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock valued at $194,000 after purchasing an additional 10,481 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in AxoGen in the second quarter valued at approximately $118,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

AxoGen Price Performance

AxoGen stock opened at $35.25 on Thursday. The stock has a market cap of $1.63 billion, a P/E ratio of -705.00 and a beta of 1.00. The company has a current ratio of 4.09, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $32.71 and a 200 day moving average price of $24.19. AxoGen, Inc. has a 12-month low of $9.22 and a 12-month high of $36.00.

Insider Buying and Selling at AxoGen

In other news, Director Kathy Johnson Weiler sold 46,653 shares of AxoGen stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $29.55, for a total value of $1,378,596.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Johnson sold 23,693 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $31.24, for a total transaction of $740,169.32. Following the sale, the director owned 13,141 shares in the company, valued at $410,524.84. This trade represents a 64.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 301,680 shares of company stock worth $9,174,052. Insiders own 2.78% of the company’s stock.

Analyst Ratings Changes

AXGN has been the subject of several recent analyst reports. Wall Street Zen raised AxoGen from a “buy” rating to a “strong-buy” rating in a report on Friday, January 23rd. Lake Street Capital lifted their price target on AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Citigroup reissued a “market outperform” rating on shares of AxoGen in a report on Thursday, October 30th. Jefferies Financial Group raised their price target on shares of AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Finally, HC Wainwright upped their price objective on shares of AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, AxoGen has a consensus rating of “Moderate Buy” and an average target price of $35.75.

About AxoGen

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.