Wall Street brokerages expect that AxoGen, Inc (NASDAQ:AXGN) will announce sales of $22.53 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for AxoGen’s earnings. The lowest sales estimate is $22.50 million and the highest is $22.60 million. AxoGen posted sales of $16.05 million during the same quarter last year, which suggests a positive year-over-year growth rate of 40.4%. The firm is scheduled to announce its next earnings results on Wednesday, November 7th.
On average, analysts expect that AxoGen will report full-year sales of $84.77 million for the current financial year, with estimates ranging from $84.60 million to $84.90 million. For the next fiscal year, analysts expect that the company will post sales of $117.97 million, with estimates ranging from $117.10 million to $118.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover AxoGen.
AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, August 1st. The medical equipment provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). AxoGen had a negative return on equity of 26.50% and a negative net margin of 24.96%. The firm had revenue of $20.58 million for the quarter, compared to the consensus estimate of $21.25 million. During the same period in the prior year, the business earned ($0.04) EPS. AxoGen’s quarterly revenue was up 35.7% on a year-over-year basis.
A number of equities analysts recently weighed in on AXGN shares. BidaskClub downgraded shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Leerink Swann reissued an “outperform” rating and set a $70.00 target price on shares of AxoGen in a research note on Tuesday, June 26th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $45.00 target price on shares of AxoGen in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. AxoGen presently has an average rating of “Buy” and an average price target of $44.67.
NASDAQ AXGN traded up $1.51 during mid-day trading on Monday, reaching $33.98. 472,619 shares of the stock were exchanged, compared to its average volume of 442,516. AxoGen has a one year low of $18.85 and a one year high of $56.85. The company has a market capitalization of $1.41 billion, a PE ratio of -109.61 and a beta of -0.39.
In related news, Director Amy Mcbride Wendell purchased 5,000 shares of AxoGen stock in a transaction on Tuesday, August 14th. The stock was acquired at an average cost of $36.89 per share, for a total transaction of $184,450.00. Following the completion of the acquisition, the director now owns 18,333 shares of the company’s stock, valued at approximately $676,304.37. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 7.86% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of AXGN. Meeder Asset Management Inc. grew its holdings in AxoGen by 844.4% in the second quarter. Meeder Asset Management Inc. now owns 2,427 shares of the medical equipment provider’s stock worth $122,000 after purchasing an additional 2,170 shares during the period. Mckinley Capital Management LLC Delaware acquired a new stake in AxoGen in the second quarter worth $156,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in AxoGen by 41.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,575 shares of the medical equipment provider’s stock worth $167,000 after purchasing an additional 1,345 shares during the period. Bank of Montreal Can acquired a new stake in AxoGen in the second quarter worth $180,000. Finally, Jane Street Group LLC acquired a new stake in AxoGen in the second quarter worth $201,000. Institutional investors and hedge funds own 82.83% of the company’s stock.
AxoGen Company Profile
AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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