Prudential Financial Inc. Has $6.89 Million Stake in AxoGen, Inc. (NASDAQ:AXGN)

Prudential Financial Inc. reduced its position in AxoGen, Inc. (NASDAQ:AXGN) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 418,285 shares of the medical equipment provider’s stock after selling 15,700 shares during the quarter. Prudential Financial Inc. owned approximately 0.95% of AxoGen worth $6,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of AxoGen by 2,912.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock worth $7,697,000 after acquiring an additional 530,775 shares during the period. Parkman Healthcare Partners LLC bought a new position in AxoGen during the third quarter worth about $5,789,000. Raymond James Financial Inc. acquired a new stake in AxoGen during the fourth quarter valued at approximately $4,552,000. FMR LLC grew its stake in shares of AxoGen by 743.1% in the 3rd quarter. FMR LLC now owns 178,957 shares of the medical equipment provider’s stock valued at $2,509,000 after purchasing an additional 157,730 shares during the period. Finally, State Street Corp raised its holdings in shares of AxoGen by 11.9% in the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock worth $12,571,000 after buying an additional 95,051 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

AxoGen Stock Performance

Shares of NASDAQ:AXGN opened at $18.36 on Monday. The business has a fifty day moving average of $18.27 and a 200-day moving average of $15.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. AxoGen, Inc. has a twelve month low of $5.55 and a twelve month high of $21.00. The firm has a market cap of $814.16 million, a PE ratio of -57.38 and a beta of 1.02.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AXGN shares. Lake Street Capital began coverage on AxoGen in a research note on Monday, March 17th. They issued a “buy” rating and a $30.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $24.00 target price on shares of AxoGen in a research note on Wednesday, March 5th. Finally, Canaccord Genuity Group increased their target price on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $22.60.

Insiders Place Their Bets

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the transaction, the director now owns 97,899 shares in the company, valued at $1,959,937.98. The trade was a 4.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction on 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 transaction, the insider now owns 217,762 shares in the company, valued at $3,810,835. The trade was a 6.49 % 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 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.