Charles Schwab Investment Management Inc. Has $6.87 Million Position in AxoGen, Inc. (NASDAQ:AXGN)

Charles Schwab Investment Management Inc. raised its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 14.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 416,610 shares of the medical equipment provider’s stock after purchasing an additional 52,846 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.95% of AxoGen worth $6,866,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. bought a new position in shares of AxoGen during the 3rd quarter worth approximately $207,000. Quest Partners LLC lifted its holdings in AxoGen by 23,066.7% during the third 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 period. Intech Investment Management LLC purchased a new position in AxoGen in the third quarter worth $173,000. Eagle Asset Management Inc. purchased a new position in AxoGen in the third quarter worth $1,728,000. Finally, FMR LLC grew its stake in AxoGen by 743.1% in the 3rd quarter. FMR LLC now owns 178,957 shares of the medical equipment provider’s stock valued at $2,509,000 after purchasing an additional 157,730 shares during the period. 80.29% of the stock is owned by institutional investors.

AxoGen Stock Up 2.4 %

AxoGen stock opened at $18.15 on Tuesday. The firm has a 50 day simple moving average of $18.24 and a 200 day simple moving average of $15.70. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. AxoGen, Inc. has a 1-year low of $5.55 and a 1-year high of $21.00. The firm has a market capitalization of $804.84 million, a price-to-earnings ratio of -56.72 and a beta of 1.02.

Insiders Place Their Bets

In related news, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value of $100,100.00. Following the transaction, the director now owns 97,899 shares in the company, valued at $1,959,937.98. This trade represents 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 dated Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value of $264,442.50. Following the sale, the insider now owns 217,762 shares of the company’s stock, valued at $3,810,835. This represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AXGN shares. 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 report on Wednesday, February 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $24.00 target price on shares of AxoGen in a research report on Wednesday, March 5th. Finally, Lake Street Capital started coverage on shares of AxoGen in a research note on Monday, March 17th. They set a “buy” rating and a $30.00 price target for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $22.60.

About AxoGen

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.