Rice Hall James & Associates LLC Trims Stock Position in AxoGen, Inc. (NASDAQ:AXGN)

Rice Hall James & Associates LLC reduced its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 192,180 shares of the medical equipment provider’s stock after selling 2,089 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.44% of AxoGen worth $2,694,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AXGN. BNP Paribas Financial Markets increased its position in AxoGen by 8.6% during the 1st quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock valued at $168,000 after purchasing an additional 1,651 shares during the period. Roubaix Capital LLC purchased a new stake in shares of AxoGen in the 1st quarter worth about $351,000. Lazard Asset Management LLC grew its position in shares of AxoGen by 30.1% in the 1st 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. Price T Rowe Associates Inc. MD grew its position in shares of AxoGen by 8.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock worth $240,000 after buying an additional 2,204 shares during the period. Finally, First Light Asset Management LLC grew its position in shares of AxoGen by 177.0% in the 1st quarter. First Light Asset Management LLC now owns 765,886 shares of the medical equipment provider’s stock worth $6,181,000 after buying an additional 489,397 shares during the period. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Stock Performance

Shares of AxoGen stock opened at $13.95 on Friday. The stock has a market cap of $611.43 million, a price-to-earnings ratio of -36.71 and a beta of 1.13. The firm’s 50-day moving average is $13.65 and its 200 day moving average is $9.81. AxoGen, Inc. has a 1 year low of $3.56 and a 1 year high of $15.23. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.51 and a quick ratio of 2.32.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.10. The business had revenue of $47.91 million for the quarter, compared to analysts’ expectations of $43.27 million. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. Sell-side analysts anticipate that AxoGen, Inc. will post -0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AXGN shares. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. JMP Securities upped their price target 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $15.00.

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.