AxoGen (NASDAQ:AXGN) Hits New 12-Month High - Here's What Happened

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report)'s stock price hit a new 52-week high on Friday . The stock traded as high as $19.19 and last traded at $18.87, with a volume of 91274 shares traded. The stock had previously closed at $18.50.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price objective on shares of AxoGen from $18.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, February 3rd.

AxoGen Price Performance

The firm has a market cap of $885.09 million, a PE ratio of -62.85 and a beta of 1.00. The stock has a 50 day simple moving average of $17.36 and a two-hundred day simple moving average of $14.87. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

AxoGen (NASDAQ:AXGN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The medical equipment provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). AxoGen had a negative net margin of 7.91% and a negative return on equity of 14.91%. Sell-side analysts expect that AxoGen, Inc. will post -0.29 earnings per share for the current year.

Institutional Trading of AxoGen

A number of hedge funds have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP increased its holdings in AxoGen by 2.7% in the fourth quarter. Divisadero Street Capital Management LP now owns 26,972 shares of the medical equipment provider's stock valued at $444,000 after buying an additional 700 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of AxoGen by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider's stock valued at $398,000 after acquiring an additional 926 shares during the period. Principal Financial Group Inc. increased its stake in shares of AxoGen by 8.3% in the 4th quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider's stock valued at $264,000 after purchasing an additional 1,228 shares in the last quarter. Sentry Investment Management LLC raised its holdings in AxoGen by 9.3% in the 3rd quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider's stock worth $243,000 after purchasing an additional 1,483 shares during the period. Finally, Rhumbline Advisers raised its holdings in AxoGen by 2.7% in the 4th quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider's stock worth $960,000 after purchasing an additional 1,521 shares during the period. 80.29% of the stock is owned by hedge funds and other institutional investors.

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.