Raymond James Financial Inc. Makes New Investment in AxoGen, Inc. (NASDAQ:AXGN)

Raymond James Financial Inc. purchased a new stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 276,200 shares of the medical equipment provider's stock, valued at approximately $4,552,000. Raymond James Financial Inc. owned 0.63% of AxoGen as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AXGN. R Squared Ltd purchased a new position in shares of AxoGen in the fourth quarter worth approximately $30,000. US Bancorp DE purchased a new position in shares of AxoGen during the 4th quarter worth $30,000. Quest Partners LLC boosted its stake in shares of AxoGen by 23,066.7% during the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 2,076 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of AxoGen during the 3rd quarter valued at $165,000. Finally, BNP Paribas Financial Markets increased its stake in shares of AxoGen by 238.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,284 shares of the medical equipment provider's stock worth $172,000 after purchasing an additional 8,656 shares in the last quarter. Hedge funds and other institutional investors own 80.29% of the company's stock.

Insider Transactions at AxoGen

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

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Analysts Set New Price Targets

AXGN has been the topic of several analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $24.00 target price on shares of AxoGen in a research report on Wednesday, March 5th. Canaccord Genuity Group raised their price objective on AxoGen from $22.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, Lake Street Capital started coverage on AxoGen in a research report on Monday, March 17th. They set a "buy" rating and a $30.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $22.60.

AxoGen Price Performance

Shares of NASDAQ:AXGN traded down $0.63 during trading on Friday, hitting $18.36. 423,717 shares of the company's stock were exchanged, compared to its average volume of 419,322. The business's 50-day simple moving average is $18.27 and its 200 day simple moving average is $15.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. AxoGen, Inc. has a 52-week low of $5.55 and a 52-week high of $21.00. The company has a market cap of $814.16 million, a price-to-earnings ratio of -57.38 and a beta of 1.02.

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.