Bank of New York Mellon Corp Buys 13,798 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Bank of New York Mellon Corp grew its stake in AxoGen, Inc. (NASDAQ:AXGN) by 9.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,892 shares of the medical equipment provider’s stock after purchasing an additional 13,798 shares during the period. Bank of New York Mellon Corp owned about 0.37% of AxoGen worth $1,165,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AXGN. Lazard Asset Management LLC increased its position in shares of AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after purchasing an additional 2,671 shares in the last quarter. BNP Paribas Financial Markets boosted its stake 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 acquiring an additional 1,651 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 buying an additional 2,204 shares in the last quarter. Roubaix Capital LLC bought a new position in shares of AxoGen during the 1st quarter valued at about $351,000. Finally, Keeley Teton Advisors LLC boosted its holdings in shares of AxoGen by 135.3% in the fourth quarter. Keeley Teton Advisors LLC now owns 84,725 shares of the medical equipment provider’s stock valued at $579,000 after buying an additional 48,725 shares during the period. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Price Performance

Shares of AXGN opened at $14.08 on Friday. The firm has a market capitalization of $615.37 million, a PE ratio of -28.16 and a beta of 1.12. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.51 and a quick ratio of 2.32. The company’s 50-day moving average is $11.22 and its 200-day moving average is $8.60. AxoGen, Inc. has a fifty-two week low of $3.45 and a fifty-two week high of $15.08.

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

Wall Street Analyst Weigh In

AXGN has been the topic of a number of recent research reports. JMP Securities lifted their price objective on shares of AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 price objective on shares of AxoGen in a report on Thursday, June 20th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Raymond James began coverage on shares of AxoGen in a research note on Monday, July 1st. They set an “outperform” rating and a $13.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $13.80.

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.