Q3 2017 EPS Estimates for AxoGen, Inc. (AXGN) Reduced by Analyst
AxoGen, Inc. (NASDAQ:AXGN) – Equities research analysts at Leerink Swann decreased their Q3 2017 earnings estimates for shares of AxoGen in a research note issued on Thursday. Leerink Swann analyst R. Newitter now forecasts that the medical equipment provider will post earnings per share of ($0.08) for the quarter, down from their prior forecast of ($0.06). Leerink Swann has a “Outperform” rating and a $22.00 price objective on the stock. Leerink Swann also issued estimates for AxoGen’s FY2017 earnings at ($0.32) EPS, Q1 2018 earnings at ($0.10) EPS, Q2 2018 earnings at ($0.05) EPS and FY2018 earnings at ($0.12) EPS.
AxoGen (NASDAQ:AXGN) last released its earnings results on Wednesday, August 2nd. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $15.20 million for the quarter, compared to analyst estimates of $14.40 million. AxoGen had a negative net margin of 27.50% and a negative return on equity of 114.64%. AxoGen’s revenue for the quarter was up 46.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) earnings per share. TRADEMARK VIOLATION NOTICE: “Q3 2017 EPS Estimates for AxoGen, Inc. (AXGN) Reduced by Analyst” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this story on another publication, it was copied illegally and republished in violation of US & international trademark and copyright legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/08/07/q3-2017-eps-estimates-for-axogen-inc-axgn-reduced-by-analyst.html.
AXGN has been the subject of several other reports. BidaskClub lowered shares of AxoGen from a “buy” rating to a “hold” rating in a research report on Thursday. Wedbush restated an “outperform” rating and set a $14.00 target price (down from $17.00) on shares of AxoGen in a research report on Friday, May 19th. Cantor Fitzgerald assumed coverage on shares of AxoGen in a research report on Thursday, June 29th. They set an “overweight” rating and a $18.00 target price for the company. Finally, ValuEngine upgraded shares of AxoGen from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $15.90.
AxoGen (NASDAQ:AXGN) opened at 14.65 on Monday. The firm’s market cap is $486.97 million. The company has a 50-day moving average of $15.87 and a 200 day moving average of $12.68. AxoGen has a 12-month low of $6.51 and a 12-month high of $17.25.
Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in AxoGen by 238.7% in the second quarter. Russell Investments Group Ltd. now owns 611,678 shares of the medical equipment provider’s stock valued at $10,245,000 after buying an additional 431,057 shares during the period. Lyon Street Capital LLC bought a new position in AxoGen during the first quarter valued at approximately $2,166,000. Renaissance Technologies LLC bought a new position in AxoGen during the first quarter valued at approximately $1,473,000. Gilder Gagnon Howe & Co. LLC increased its position in AxoGen by 26.5% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 559,516 shares of the medical equipment provider’s stock valued at $5,847,000 after buying an additional 117,178 shares during the period. Finally, Summit Partners Public Asset Management LLC increased its position in AxoGen by 27.4% in the first quarter. Summit Partners Public Asset Management LLC now owns 409,498 shares of the medical equipment provider’s stock valued at $4,279,000 after buying an additional 88,140 shares during the period. Institutional investors and hedge funds own 64.58% of the company’s stock.
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