First Trust Advisors LP Boosts Stake in AxoGen, Inc (AXGN)

First Trust Advisors LP grew its holdings in shares of AxoGen, Inc (NASDAQ:AXGN) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,142 shares of the medical equipment provider’s stock after purchasing an additional 2,586 shares during the period. First Trust Advisors LP owned approximately 0.28% of AxoGen worth $4,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. boosted its position in shares of AxoGen by 18.3% during the 2nd quarter. BlackRock Inc. now owns 2,437,319 shares of the medical equipment provider’s stock valued at $122,476,000 after purchasing an additional 377,275 shares in the last quarter. Marshall Wace LLP bought a new position in shares of AxoGen during the 2nd quarter valued at about $58,740,000. Renaissance Technologies LLC boosted its position in shares of AxoGen by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 998,300 shares of the medical equipment provider’s stock valued at $50,165,000 after purchasing an additional 110,500 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of AxoGen by 237.8% in the second quarter. Eagle Asset Management Inc. now owns 906,339 shares of the medical equipment provider’s stock worth $45,543,000 after buying an additional 638,019 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of AxoGen by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 903,086 shares of the medical equipment provider’s stock worth $45,380,000 after buying an additional 25,748 shares during the period. Institutional investors own 86.11% of the company’s stock.

Shares of AXGN opened at $30.99 on Friday. AxoGen, Inc has a one year low of $23.60 and a one year high of $56.85.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Monday, October 29th. The medical equipment provider reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). AxoGen had a negative net margin of 25.39% and a negative return on equity of 18.17%. The company had revenue of $22.66 million during the quarter, compared to analysts’ expectations of $22.52 million. During the same period last year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. As a group, sell-side analysts expect that AxoGen, Inc will post -0.58 EPS for the current fiscal year.

Several research analysts have commented on the stock. BidaskClub cut shares of AxoGen from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Cantor Fitzgerald reiterated a “buy” rating and issued a $45.00 target price on shares of AxoGen in a report on Thursday, August 9th. BTIG Research assumed coverage on shares of AxoGen in a report on Wednesday, November 14th. They issued a “neutral” rating for the company. Finally, Leerink Swann reiterated an “outperform” rating and issued a $55.00 target price on shares of AxoGen in a report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $44.80.

In other AxoGen news, General Counsel Gregory Gene Freitag sold 20,000 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $32.25, for a total value of $645,000.00. Following the completion of the transaction, the general counsel now directly owns 140,865 shares in the company, valued at $4,542,896.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Karen L. Zaderej sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $33.18, for a total transaction of $829,500.00. Following the completion of the sale, the chief executive officer now directly owns 394,970 shares of the company’s stock, valued at $13,105,104.60. The disclosure for this sale can be found here. Company insiders own 7.86% of the company’s stock.

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AxoGen Company Profile

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

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Institutional Ownership by Quarter for AxoGen (NASDAQ:AXGN)

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