AxoGen, Inc. (AXGN) Expected to Post Quarterly Sales of $16.06 Million
Equities analysts expect AxoGen, Inc. (NASDAQ:AXGN) to report sales of $16.06 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for AxoGen’s earnings, with estimates ranging from $16.01 million to $16.10 million. AxoGen reported sales of $11.41 million in the same quarter last year, which would suggest a positive year over year growth rate of 40.8%. The company is expected to issue its next earnings report on Wednesday, February 28th.
On average, analysts expect that AxoGen will report full-year sales of $16.06 million for the current fiscal year, with estimates ranging from $59.46 million to $59.60 million. For the next financial year, analysts forecast that the firm will report sales of $83.55 million per share, with estimates ranging from $83.30 million to $83.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for AxoGen.
AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported ($0.06) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.06). The firm had revenue of $16.05 million for the quarter, compared to analysts’ expectations of $15.55 million. AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. AxoGen’s revenue was up 43.2% on a year-over-year basis.
Several equities research analysts have issued reports on the stock. Leerink Swann raised their price target on shares of AxoGen from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Roth Capital reaffirmed a “buy” rating and set a $21.00 price target (up from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. BidaskClub cut shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $18.00 price target on shares of AxoGen in a research note on Monday, August 21st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. AxoGen currently has a consensus rating of “Buy” and an average target price of $18.00.
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Shares of AxoGen (NASDAQ AXGN) opened at $24.80 on Tuesday. AxoGen has a 12 month low of $8.05 and a 12 month high of $25.15. The company has a debt-to-equity ratio of 1.93, a quick ratio of 2.95 and a current ratio of 3.55.
In related news, Director Robert James Rudelius sold 16,143 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $18.00, for a total value of $290,574.00. Following the transaction, the director now owns 43,273 shares in the company, valued at $778,914. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AXGN. Bank of America Corp DE raised its holdings in AxoGen by 8.7% in the first quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock valued at $106,000 after buying an additional 814 shares during the period. Parametric Portfolio Associates LLC raised its holdings in AxoGen by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 93 shares during the period. Thompson Davis & CO. Inc. raised its stake in shares of AxoGen by 575.0% during the second quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the medical equipment provider’s stock valued at $113,000 after purchasing an additional 5,750 shares during the period. American International Group Inc. raised its stake in shares of AxoGen by 7.7% during the first quarter. American International Group Inc. now owns 14,941 shares of the medical equipment provider’s stock valued at $156,000 after purchasing an additional 1,068 shares during the period. Finally, UBS Group AG raised its stake in shares of AxoGen by 8.3% during the first quarter. UBS Group AG now owns 16,141 shares of the medical equipment provider’s stock valued at $169,000 after purchasing an additional 1,234 shares during the period. Hedge funds and other institutional investors own 67.44% of the company’s stock.
AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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