Sentry Investment Management LLC Invests $131,000 in AxoGen, Inc. (NASDAQ:AXGN)

Sentry Investment Management LLC purchased a new stake in AxoGen, Inc. (NASDAQ:AXGN) in the fourth quarter, HoldingsChannel reports. The firm purchased 19,138 shares of the medical equipment provider’s stock, valued at approximately $131,000.

Other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in AxoGen by 534.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $53,000 after purchasing an additional 6,575 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in AxoGen by 13.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 92,260 shares of the medical equipment provider’s stock worth $630,000 after acquiring an additional 11,000 shares in the last quarter. SG Americas Securities LLC lifted its holdings in AxoGen by 45.9% during the fourth quarter. SG Americas Securities LLC now owns 14,823 shares of the medical equipment provider’s stock worth $101,000 after acquiring an additional 4,666 shares in the last quarter. Vanguard Group Inc. grew its stake in AxoGen by 2.3% in the third quarter. Vanguard Group Inc. now owns 2,478,521 shares of the medical equipment provider’s stock valued at $12,393,000 after acquiring an additional 56,536 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of AxoGen by 15.3% in the third quarter. Deutsche Bank AG now owns 25,641 shares of the medical equipment provider’s stock worth $128,000 after acquiring an additional 3,408 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AxoGen

In related news, insider Erick Wayne Devinney sold 4,578 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $7.68, for a total transaction of $35,159.04. Following the completion of the transaction, the insider now owns 165,661 shares in the company, valued at $1,272,276.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Erick Wayne Devinney sold 4,578 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $7.68, for a total transaction of $35,159.04. Following the sale, the insider now owns 165,661 shares in the company, valued at $1,272,276.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Patrick Donovan sold 6,033 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $7.68, for a total value of $46,333.44. Following the completion of the transaction, the vice president now owns 37,992 shares of the company’s stock, valued at $291,778.56. The disclosure for this sale can be found here. Insiders have sold a total of 111,201 shares of company stock valued at $928,054 over the last 90 days. 7.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AXGN. StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $12.00 price target on shares of AxoGen in a research note on Friday, January 19th.

AxoGen Price Performance

Shares of AxoGen stock opened at $6.94 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.14 and a current ratio of 2.89. The stock’s 50-day moving average is $8.74 and its 200-day moving average is $7.28. AxoGen, Inc. has a one year low of $3.45 and a one year high of $10.83.

AxoGen (NASDAQ:AXGN) last released its earnings results on Tuesday, March 5th. The medical equipment provider reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.11. AxoGen had a negative return on equity of 22.38% and a negative net margin of 13.66%. The firm had revenue of $42.92 million for the quarter, compared to analysts’ expectations of $42.70 million. Research analysts anticipate that AxoGen, Inc. will post -0.46 earnings per share for the current year.

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.