Raymond James Financial Inc. Buys New Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Raymond James Financial Inc. purchased a new position in shares of AxoGen, Inc. (NASDAQ:AXGN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 276,200 shares of the medical equipment provider’s stock, valued at approximately $4,552,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC lifted its holdings in shares of AxoGen by 23,066.7% during the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 2,076 shares during the period. R Squared Ltd acquired a new position in AxoGen in the fourth quarter worth about $30,000. US Bancorp DE bought a new position in AxoGen during the fourth quarter worth about $30,000. Quantbot Technologies LP acquired a new stake in AxoGen during the third quarter valued at approximately $165,000. Finally, BNP Paribas Financial Markets grew its stake in shares of AxoGen by 238.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,284 shares of the medical equipment provider’s stock valued at $172,000 after purchasing an additional 8,656 shares during the period. Institutional investors own 80.29% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AXGN. Canaccord Genuity Group raised their target price on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Lake Street Capital started coverage on AxoGen in a report on Monday, March 17th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $24.00 target price on shares of AxoGen in a report on Wednesday, March 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $22.60.

AxoGen Stock Up 4.6 %

NASDAQ AXGN opened at $18.99 on Wednesday. The stock’s 50 day simple moving average is $18.25 and its 200 day simple moving average is $15.75. AxoGen, Inc. has a one year low of $5.55 and a one year high of $21.00. The firm has a market cap of $842.09 million, a PE ratio of -59.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47.

Insiders Place Their Bets

In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the sale, the insider now owns 217,762 shares in the company, valued at approximately $3,810,835. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $20.02, for a total transaction of $100,100.00. Following the completion of the transaction, the director now directly owns 97,899 shares of the company’s stock, valued at approximately $1,959,937.98. This represents a 4.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

AxoGen 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.