Primoris Wealth Advisors LLC Invests $207,000 in AxoGen, Inc. (NASDAQ:AXGN)

Primoris Wealth Advisors LLC acquired a new stake in AxoGen, Inc. (NASDAQ:AXGN) in the third quarter, Holdings Channel.com reports. The fund acquired 14,750 shares of the medical equipment provider’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sentry Investment Management LLC grew its stake in shares of AxoGen by 9.3% in the third quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider’s stock worth $243,000 after acquiring an additional 1,483 shares in the last quarter. BNP Paribas Financial Markets increased its holdings 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 worth $168,000 after purchasing an additional 1,651 shares during the period. Price T Rowe Associates Inc. MD raised its position in 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 valued at $240,000 after purchasing an additional 2,204 shares in the last quarter. Lazard Asset Management LLC boosted its stake 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 valued at $93,000 after buying an additional 2,671 shares during the period. Finally, Rhumbline Advisers grew its position in shares of AxoGen by 6.2% during the second quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock worth $421,000 after buying an additional 3,380 shares in the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on AXGN shares. JMP Securities lifted 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. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, AxoGen presently has a consensus rating of “Buy” and a consensus price target of $15.00.

AxoGen Stock Performance

Shares of AxoGen stock traded down $0.61 on Friday, hitting $12.66. The stock had a trading volume of 692,887 shares, compared to its average volume of 398,372. The company’s 50 day moving average price is $13.80 and its 200 day moving average price is $10.11. AxoGen, Inc. has a 52-week low of $4.83 and a 52-week high of $15.90. The stock has a market cap of $554.89 million, a price-to-earnings ratio of -39.56 and a beta of 1.13. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. The company had revenue of $47.91 million for the quarter, compared to analyst estimates of $43.27 million. On average, research analysts anticipate that AxoGen, Inc. will post -0.33 EPS for the current year.

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.