Eagle Asset Management Inc. Makes New Investment in AxoGen, Inc. (NASDAQ:AXGN)

Eagle Asset Management Inc. bought a new stake in AxoGen, Inc. (NASDAQ:AXGN) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 123,279 shares of the medical equipment provider’s stock, valued at approximately $1,728,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in AxoGen by 8.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 363,764 shares of the medical equipment provider’s stock valued at $5,100,000 after acquiring an additional 28,659 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of AxoGen in the third quarter valued at approximately $173,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in AxoGen by 66.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 308,686 shares of the medical equipment provider’s stock worth $4,328,000 after buying an additional 123,118 shares in the last quarter. Quest Partners LLC boosted its stake in AxoGen by 23,066.7% during the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 2,076 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in AxoGen in the 3rd quarter valued at $156,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. JMP Securities lifted their target price on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $15.00.

AxoGen Stock Performance

NASDAQ AXGN opened at $13.47 on Tuesday. The stock has a fifty day simple moving average of $13.73 and a 200-day simple moving average of $10.68. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The stock has a market cap of $592.81 million, a PE ratio of -42.09 and a beta of 1.13. AxoGen, Inc. has a twelve month low of $5.55 and a twelve month high of $15.90.

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.