WCM Investment Management LLC Buys 158,914 Shares of AxoGen, Inc. $AXGN

WCM Investment Management LLC boosted its stake in AxoGen, Inc. (NASDAQ:AXGN) by 39.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 559,530 shares of the medical equipment provider’s stock after purchasing an additional 158,914 shares during the quarter. WCM Investment Management LLC’s holdings in AxoGen were worth $17,524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Light Asset Management LLC grew its position in shares of AxoGen by 1.2% during the second quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock valued at $49,142,000 after purchasing an additional 55,028 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of AxoGen by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock worth $93,934,000 after buying an additional 190,557 shares in the last quarter. Morgan Stanley lifted its position in shares of AxoGen by 6.5% in the fourth quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock worth $84,668,000 after buying an additional 157,029 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in AxoGen by 183.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after buying an additional 1,250,968 shares during the last quarter. Finally, Wasatch Advisors LP boosted its stake in AxoGen by 101.1% during the first quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock valued at $61,534,000 after buying an additional 933,778 shares during the last quarter. Institutional investors own 80.29% of the company’s stock.

Insider Buying and Selling

In other AxoGen news, Director John Johnson sold 11,050 shares of AxoGen stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $43.26, for a total transaction of $478,023.00. Following the completion of the transaction, the director directly owned 11,050 shares of the company’s stock, valued at $478,023. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy Mcbride Wendell sold 1,647 shares of AxoGen stock in a transaction on Friday, May 8th. The stock was sold at an average price of $42.60, for a total transaction of $70,162.20. Following the transaction, the director directly owned 93,826 shares of the company’s stock, valued at $3,996,987.60. The trade was a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,041 shares of company stock worth $1,268,792 over the last three months. 2.44% of the stock is owned by insiders.

AxoGen Price Performance

NASDAQ:AXGN opened at $39.85 on Monday. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -62.27 and a beta of 1.09. AxoGen, Inc. has a 1 year low of $11.25 and a 1 year high of $46.95. The business has a 50 day simple moving average of $42.29 and a 200-day simple moving average of $36.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The company had revenue of $61.46 million during the quarter, compared to analysts’ expectations of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. Equities analysts forecast that AxoGen, Inc. will post -0.37 EPS for the current year.

Analysts Set New Price Targets

AXGN has been the subject of several research analyst reports. Citigroup restated an “outperform” rating on shares of AxoGen in a report on Wednesday, April 29th. HC Wainwright upped their price objective on AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Canaccord Genuity Group increased their target price on AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Company raised their target price on shares of AxoGen from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, Citizens Jmp lifted their price objective on shares of AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

AxoGen Profile

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.