Ameriprise Financial Inc. decreased its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN) by 15.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 71,355 shares of the medical equipment provider’s stock after selling 12,889 shares during the quarter. Ameriprise Financial Inc.’s holdings in AxoGen were worth $1,381,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in AXGN. Neuberger Berman Group LLC bought a new stake in AxoGen during the 2nd quarter valued at approximately $201,000. Nationwide Fund Advisors boosted its stake in AxoGen by 5.5% during the 2nd quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock valued at $249,000 after purchasing an additional 774 shares during the period. Susquehanna International Group LLP boosted its stake in AxoGen by 247.1% during the 2nd quarter. Susquehanna International Group LLP now owns 16,619 shares of the medical equipment provider’s stock valued at $278,000 after purchasing an additional 27,919 shares during the period. Alliancebernstein L.P. bought a new stake in AxoGen during the 2nd quarter valued at approximately $317,000. Finally, Voya Investment Management LLC boosted its stake in AxoGen by 7.4% during the 2nd quarter. Voya Investment Management LLC now owns 19,904 shares of the medical equipment provider’s stock valued at $333,000 after purchasing an additional 1,370 shares during the period. Hedge funds and other institutional investors own 66.00% of the company’s stock.
In other news, Director Guido J. Neels sold 1,150,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.74, for a total value of $22,701,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jamie Mark Grooms sold 21,290 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $26.22, for a total value of $558,223.80. The disclosure for this sale can be found here. Insiders sold a total of 1,293,990 shares of company stock valued at $26,494,898 in the last quarter. Corporate insiders own 9.33% of the company’s stock.
AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported ($0.06) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.06). AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. The company had revenue of $16.05 million during the quarter, compared to the consensus estimate of $15.55 million. The company’s quarterly revenue was up 43.2% compared to the same quarter last year. sell-side analysts expect that AxoGen, Inc. will post -0.31 earnings per share for the current fiscal year.
Several analysts recently weighed in on AXGN shares. Roth Capital restated a “buy” rating and set a $21.00 target price (up previously from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. Cantor Fitzgerald set a $37.00 target price on AxoGen and gave the company a “buy” rating in a research note on Monday. Jefferies Group started coverage on AxoGen in a research note on Thursday, November 30th. They set a “buy” rating and a $35.00 target price for the company. Lake Street Capital increased their target price on AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. Finally, Wedbush restated a “buy” rating and set a $27.00 target price (up previously from $22.00) on shares of AxoGen in a research note on Tuesday, November 21st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $29.33.
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AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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