AxoGen, Inc. (NASDAQ:AXGN) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its position in AxoGen, Inc. (NASDAQ:AXGN) by 3.2% during the third quarter, Holdings Channel reports. The firm owned 1,010,508 shares of the medical equipment provider’s stock after acquiring an additional 31,612 shares during the period. Geode Capital Management LLC’s holdings in AxoGen were worth $14,170,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of AXGN. Bank of New York Mellon Corp increased its holdings in shares of AxoGen by 9.4% in the second quarter. Bank of New York Mellon Corp now owns 160,892 shares of the medical equipment provider’s stock valued at $1,165,000 after purchasing an additional 13,798 shares during the period. Rhumbline Advisers grew its holdings in 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 acquiring an additional 3,380 shares during the period. Acadian Asset Management LLC acquired a new stake in AxoGen during the second quarter worth about $125,000. Koss Olinger Consulting LLC acquired a new stake in AxoGen during the second quarter worth about $75,000. Finally, Rice Hall James & Associates LLC grew its holdings in AxoGen by 26.8% during 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 acquiring an additional 41,095 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

AxoGen Stock Down 1.0 %

Shares of AXGN opened at $16.49 on Tuesday. 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 12 month low of $5.55 and a 12 month high of $17.23. The stock’s 50 day moving average is $14.19 and its two-hundred day moving average is $12.11. The firm has a market cap of $725.69 million, a P/E ratio of -51.53 and a beta of 1.06.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently 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.