Sentry Investment Management LLC Lowers Stock Position in AxoGen, Inc. (NASDAQ:AXGN)

Sentry Investment Management LLC reduced its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,936 shares of the medical equipment provider’s stock after selling 2,432 shares during the period. Sentry Investment Management LLC’s holdings in AxoGen were worth $246,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in AxoGen in the 4th quarter valued at $30,000. Quest Partners LLC boosted its holdings in shares of AxoGen by 23,066.7% in the 3rd 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. Oppenheimer & Co. Inc. bought a new position in AxoGen during the third quarter valued at about $156,000. Quantbot Technologies LP purchased a new stake in AxoGen during the third quarter worth about $165,000. Finally, BNP Paribas Financial Markets raised its position in AxoGen by 238.6% in the third quarter. BNP Paribas Financial Markets now owns 12,284 shares of the medical equipment provider’s stock worth $172,000 after acquiring an additional 8,656 shares during the period. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Stock Up 11.7 %

AXGN stock opened at $20.11 on Wednesday. The stock has a fifty day moving average of $17.47 and a 200-day moving average of $14.93. AxoGen, Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $21.00. The company has a market capitalization of $885.09 million, a price-to-earnings ratio of -62.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased their target price on shares of AxoGen from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, February 3rd.

AxoGen 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.