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Held by 207 of 5,944 reporting institutions (92th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $45.29 today, the market must believe free cash flow compounds 72.8%/yr for a decade (off $1M normalized FCF).
2-stage DCF · 0.05B shares · net debt $13M
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $368.2B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $339.9B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $248.2B | 37.1× | 31.9× | 5.6× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.1B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $131.1B | 33.7× | 28.8× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.8B | 24.9× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $107.1B | 33.4× | 18.4× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.5B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.6B | 19.0× | 19.8× | 5.8× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
| AXGN | $2.1B | — | — | 9.5× | 20.2% | 74.3% | -7.0% | -12.2% | -8.9% | -40.7× | 207 |
Peers = companies sharing AXGN's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $225.2M 100.0% | $187.3M 100.0% | $159.0M 100.0% | $138.6M 100.0% | $127.4M 100.0% | $112.3M 100.0% | $106.7M 100.0% | $83.9M 100.0% | $60.4M 100.0% | $41.1M 100.0% |
| Cost of Revenue | $57.9M 25.7% | $45.4M 24.2% | $37.1M 23.4% | $29.8M 21.5% | $22.9M 18.0% | $21.6M 19.2% | $17.3M 16.3% | $12.9M 15.4% | $9.3M 15.4% | $6.5M 15.7% |
| Cost of Products | — | — | — | — | — | — | — | — | $9.3M 15.4% | $6.5M 15.7% |
| Gross Profit | $167.4M 74.3% | $142.0M 75.8% | $121.9M 76.6% | $108.8M 78.5% | $104.4M 82.0% | $90.7M 80.8% | $89.4M 83.7% | $71.0M 84.6% | $51.1M 84.6% | $34.6M 84.3% |
| Research & Development | $32.9M 14.6% | $27.8M 14.8% | $27.3M 17.2% | $25.6M 18.5% | $24.2M 19.0% | $17.8M 15.9% | $17.5M 16.4% | $11.8M 14.0% | $6.7M 11.1% | $4.2M 10.2% |
| Selling, General & Admin | $44.6M 19.8% | $39.0M 20.8% | $38.4M 24.2% | $40.9M 29.5% | $32.3M 25.4% | $26.4M 23.5% | $31.3M 29.3% | $23.1M 27.5% | $14.7M 24.4% | $10.1M 24.6% |
| Total Operating Expenses | $175.2M 77.8% | $145.3M 77.5% | $143.3M 90.1% | $138.5M 100.0% | $129.8M 102.0% | $113.9M 101.4% | $120.8M 113.2% | $91.5M 109.0% | $59.1M 97.7% | $42.8M 104.0% |
| Operating Income | -$7.8M -3.5% | -$3.3M -1.8% | -$21.5M -13.5% | -$29.7M -21.4% | -$25.4M -20.0% | -$23.2M -20.6% | -$31.4M -29.4% | -$20.5M -24.4% | -$8.0M -13.2% | -$8.1M -19.8% |
| Interest Expense | $7.7M 3.4% | $8.2M 4.4% | $2.8M 1.8% | $624K 0.5% | $1.4M 1.1% | $1.1M 0.9% | $40K 0.0% | $1.2M 1.4% | $2.2M 3.7% | $5.4M 13.1% |
| Other Income (Expense), net | -$7.9M -3.5% | -$6.7M -3.6% | -$254K -0.2% | $759K 0.5% | -$1.6M -1.2% | -$604K -0.5% | $2.3M 2.1% | -$1.9M -2.3% | -$2.5M -4.1% | -$6.3M -15.3% |
| Income Tax Expense | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% |
| Net Income | -$15.7M -7.0% | -$10.0M -5.3% | -$21.7M -13.7% | -$28.9M -20.9% | -$27.0M -21.2% | -$23.8M -21.2% | -$29.1M -27.3% | -$22.4M -26.7% | -$10.4M -17.3% | -$14.4M -35.1% |
| Per Share | ||||||||||
| EPS (Basic) | $-0.34 | $-0.23 | $-0.51 | $-0.69 | $-0.65 | $-0.60 | $-0.74 | — | — | — |
| EPS (Diluted) | $-0.34 | $-0.23 | $-0.51 | $-0.69 | $-0.65 | $-0.60 | $-0.74 | — | — | — |
| Weighted Avg Shares (Basic) | 46.1M | 44.3M | 42.9M | 42.1M | 41.2M | 40.0M | 39.2M | — | — | — |
| Weighted Avg Shares (Diluted) | 46.1M | 44.3M | 42.9M | 42.1M | 41.2M | 40.0M | 39.2M | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$3M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: -9%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $36M covers the $0 due within a year 35548000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2012-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~15.9% on $48M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
Where each multiple sits in its own 14-yr range · 80th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 6.9× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 15.4 | 16.3 | 19.2 | 18.0 | 21.5 | 23.4 | 24.2 | 25.7 |
| Gross Profit | 84.6 | 83.7 | 80.8 | 82.0 | 78.5 | 76.6 | 75.8 | 74.3 |
| R&D | 14.0 | 16.4 | 15.9 | 19.0 | 18.5 | 17.2 | 14.8 | 14.6 |
| SG&A | 27.5 | 29.3 | 23.5 | 25.4 | 29.5 | 24.2 | 20.8 | 19.8 |
| Operating Income | -24.4 | -29.4 | -20.6 | -20.0 | -21.4 | -13.5 | -1.8 | -3.5 |
| Income Tax | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net Income | -26.7 | -27.3 | -21.2 | -21.2 | -20.9 | -13.7 | -5.3 | -7.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on AXGN: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.