Principal Financial Group Inc. Makes New $207,000 Investment in AxoGen, Inc. (NASDAQ:AXGN)

Principal Financial Group Inc. bought a new stake in shares of AxoGen, Inc. (NASDAQ:AXGN) during the 3rd quarter, Holdings Channel reports. The fund bought 14,772 shares of the medical equipment provider’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in AxoGen by 2,014.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock valued at $9,490,000 after acquiring an additional 1,248,823 shares in the last quarter. Divisadero Street Capital Management LP increased its position in shares of AxoGen by 587.2% during the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after buying an additional 587,024 shares during the period. Rice Hall James & Associates LLC raised its stake in AxoGen by 26.8% in the second quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider’s stock worth $1,407,000 after buying an additional 41,095 shares in the last quarter. Semanteon Capital Management LP purchased a new stake in AxoGen in the third quarter worth about $603,000. Finally, Creative Planning boosted its position in AxoGen by 152.2% during the 3rd quarter. Creative Planning now owns 29,790 shares of the medical equipment provider’s stock valued at $418,000 after acquiring an additional 17,980 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

AxoGen Stock Performance

Shares of AxoGen stock opened at $13.47 on Tuesday. AxoGen, Inc. has a 1 year low of $5.55 and a 1 year high of $15.90. The firm’s 50-day moving average is $13.73 and its 200 day moving average is $10.68. The stock has a market cap of $592.81 million, a price-to-earnings ratio of -42.09 and a beta of 1.13. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47.

Analyst Ratings Changes

AXGN has been the subject of several research reports. StockNews.com raised AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. JMP Securities raised their price objective on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 9th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $15.00.

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.