11,334 Shares in AxoGen, Inc. (NASDAQ:AXGN) Purchased by Arizona State Retirement System

Arizona State Retirement System bought a new position in shares of AxoGen, Inc. (NASDAQ:AXGN – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,334 shares of the medical equipment provider’s stock, valued at approximately $113,000.

A number of other institutional investors have also made changes to their positions in AXGN. Almanack Investment Partners LLC. purchased a new position in shares of AxoGen in the third quarter valued at approximately $27,000. Lazard Asset Management LLC grew its stake in AxoGen by 1,282.6% during the 1st quarter. Lazard Asset Management LLC now owns 5,088 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 4,720 shares during the last quarter. Royal Bank of Canada boosted its stake in AxoGen by 610.2% during the 3rd quarter. Royal Bank of Canada now owns 6,129 shares of the medical equipment provider’s stock worth $74,000 after purchasing an additional 5,266 shares during the period. Tower Research Capital LLC TRC raised its stake in AxoGen by 139.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,909 shares of the medical equipment provider’s stock valued at $106,000 after acquiring an additional 5,184 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in AxoGen in the 1st quarter valued at $117,000. 76.22% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Stock Performance

AxoGen stock opened at $8.91 on Friday. The company has a market cap of $381.35 million, a P/E ratio of -15.36 and a beta of 0.63. The firm’s 50 day simple moving average is $9.36 and its 200-day simple moving average is $9.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.18 and a quick ratio of 3.24. AxoGen, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $13.66.

AxoGen (NASDAQ:AXGN – Get Rating) last issued its quarterly earnings data on Tuesday, March 14th. The medical equipment provider reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm had revenue of $36.20 million for the quarter, compared to analyst estimates of $36.10 million. AxoGen had a negative net margin of 17.01% and a negative return on equity of 15.23%. As a group, equities research analysts predict that AxoGen, Inc. will post -0.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com initiated coverage on shares of AxoGen in a research report on Thursday, May 18th. They set a “buy” rating for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price target on shares of AxoGen in a report on Tuesday, March 28th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of AxoGen in a report on Wednesday, March 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AxoGen currently has an average rating of “Buy” and a consensus target price of $17.00.

About AxoGen

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Axogen, Inc engages in the development and market of surgical solutions for peripheral nerve regeneration and repair. It also provides products and education to improve surgical treatment algorithms for peripheral nerve damage or discontinuity. The firm’s products include avance nerve graft, axoguard nerve connector, axoguard nerve protector, avive soft tissue membrane, acroval neurosensory and motor testing system, and axotouch two-point discriminator.