Raymond James Financial Inc. Invests $4.55 Million in AxoGen, Inc. (NASDAQ:AXGN)

Raymond James Financial Inc. acquired a new position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 276,200 shares of the medical equipment provider's stock, valued at approximately $4,552,000. Raymond James Financial Inc. owned about 0.63% of AxoGen at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in AxoGen by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider's stock worth $14,170,000 after acquiring an additional 31,612 shares in the last quarter. JPMorgan Chase & Co. increased its stake in AxoGen by 2,912.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider's stock worth $7,697,000 after purchasing an additional 530,775 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in AxoGen by 14.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 416,610 shares of the medical equipment provider's stock valued at $6,866,000 after buying an additional 52,846 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in AxoGen by 49,604.4% during the 4th quarter. Russell Investments Group Ltd. now owns 148,119 shares of the medical equipment provider's stock worth $2,441,000 after purchasing an additional 147,821 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in AxoGen by 37.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 97,290 shares of the medical equipment provider's stock valued at $1,603,000 after buying an additional 26,298 shares during the last quarter. Institutional investors own 80.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AXGN. Cantor Fitzgerald reissued an "overweight" rating and issued a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Canaccord Genuity Group boosted their price target on shares of AxoGen from $22.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, Lake Street Capital initiated coverage on AxoGen in a report on Monday, March 17th. They issued a "buy" rating and a $30.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $22.60.

Insider Activity at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the sale, the director now owns 97,899 shares in the company, valued at $1,959,937.98. The trade was a 4.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total transaction of $264,442.50. Following the transaction, the insider now owns 217,762 shares in the company, valued at approximately $3,810,835. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

AxoGen Stock Performance

NASDAQ AXGN traded up $0.33 during trading on Tuesday, reaching $16.51. 205,367 shares of the company's stock were exchanged, compared to its average volume of 427,650. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The business has a 50 day moving average price of $17.38 and a 200-day moving average price of $16.21. The stock has a market capitalization of $732.12 million, a P/E ratio of -51.59 and a beta of 1.00. AxoGen, Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $21.00.

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.