Principal Financial Group Inc. Makes New Investment in AxoGen, Inc. (NASDAQ:AXGN)

Principal Financial Group Inc. purchased a new position in AxoGen, Inc. (NASDAQ:AXGN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,772 shares of the medical equipment provider’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. nVerses Capital LLC bought a new position in shares of AxoGen during the 3rd quarter worth $56,000. Koss Olinger Consulting LLC bought a new stake in AxoGen during the 2nd quarter worth approximately $75,000. Lazard Asset Management LLC raised its position in shares of AxoGen by 30.1% in the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after buying an additional 2,671 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of AxoGen in the 3rd quarter valued at about $227,000. Finally, Sentry Investment Management LLC lifted its position in AxoGen by 9.3% during the third quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider’s stock valued at $243,000 after purchasing an additional 1,483 shares during the last quarter. 80.29% of the stock is owned by institutional investors.

AxoGen Stock Performance

AxoGen stock opened at $13.47 on Tuesday. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $13.73 and a two-hundred day simple moving average of $10.68. The company has a market capitalization of $592.81 million, a PE ratio of -42.09 and a beta of 1.13. AxoGen, Inc. has a twelve month low of $5.55 and a twelve month high of $15.90.

Analysts Set New Price Targets

AXGN has been the topic of a number of research analyst reports. JMP Securities increased their price target on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, August 9th. StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, AxoGen currently has an average rating of “Buy” and an average target price of $15.00.

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.