Sentry Investment Management LLC Trims Stake in AxoGen, Inc. (NASDAQ:AXGN)

Sentry Investment Management LLC lessened its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 17.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 15,885 shares of the medical equipment provider’s stock after selling 3,253 shares during the quarter. Sentry Investment Management LLC’s holdings in AxoGen were worth $115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Koss Olinger Consulting LLC acquired a new stake in AxoGen during the 2nd quarter worth $75,000. Lazard Asset Management LLC boosted its stake in shares of AxoGen by 30.1% during the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after buying an additional 2,671 shares during the period. Acadian Asset Management LLC purchased a new position in shares of AxoGen during the second quarter worth about $125,000. BNP Paribas Financial Markets increased its position in AxoGen by 8.6% in the 1st quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock valued at $168,000 after acquiring an additional 1,651 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in AxoGen by 8.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock valued at $240,000 after acquiring an additional 2,204 shares during the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Raymond James assumed coverage on AxoGen in a research note on Monday, July 1st. They issued an “outperform” rating and a $13.00 target price on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price objective on shares of AxoGen in a research report on Thursday, June 20th. StockNews.com downgraded shares of AxoGen from a “buy” rating to a “hold” rating in a research report on Monday. Finally, JMP Securities lifted their target price on shares of AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, AxoGen has an average rating of “Moderate Buy” and an average price target of $13.80.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $13.57 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.32 and a current ratio of 3.51. AxoGen, Inc. has a one year low of $3.45 and a one year high of $13.79. The firm has a market capitalization of $593.08 million, a P/E ratio of -27.14 and a beta of 1.12. The company’s fifty day moving average is $10.56 and its two-hundred day moving average is $8.46.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.10. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. The company had revenue of $47.91 million for the quarter, compared to analyst estimates of $43.27 million. Analysts forecast that AxoGen, Inc. will post -0.33 EPS for the current fiscal year.

About AxoGen

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.