Zacks: Analysts Anticipate AxoGen, Inc. (AXGN) Will Announce Quarterly Sales of $15.58 Million
Equities analysts predict that AxoGen, Inc. (NASDAQ:AXGN) will report $15.58 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for AxoGen’s earnings. The highest sales estimate is $15.80 million and the lowest is $15.43 million. AxoGen posted sales of $11.21 million during the same quarter last year, which suggests a positive year-over-year growth rate of 39%. The business is expected to announce its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that AxoGen will report full year sales of $15.58 million for the current fiscal year, with estimates ranging from $58.43 million to $59.18 million. For the next year, analysts expect that the company will post sales of $82.08 million per share, with estimates ranging from $81.18 million to $83.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover AxoGen.
AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Wednesday, August 2nd. The medical equipment provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm 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 quarterly revenue was up 46.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share.
Several analysts have recently weighed in on AXGN shares. ValuEngine upgraded shares of AxoGen from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Roth Capital reiterated a “buy” rating and set a $21.00 target price (up from $18.00) on shares of AxoGen in a research report on Tuesday, September 12th. Cantor Fitzgerald started coverage on shares of AxoGen in a research report on Thursday, June 29th. They set an “overweight” rating and a $18.00 target price on the stock. BidaskClub lowered shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Leerink Swann started coverage on shares of AxoGen in a research report on Monday, July 31st. They set an “outperform” rating and a $22.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $17.20.
Shares of AxoGen (AXGN) opened at 18.50 on Friday. AxoGen has a 1-year low of $7.65 and a 1-year high of $18.75. The company’s 50-day moving average is $16.39 and its 200 day moving average is $14.01. The firm’s market cap is $614.94 million.
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In related news, Director Robert James Rudelius sold 16,143 shares of AxoGen stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $18.00, for a total transaction of $290,574.00. Following the completion of the transaction, the director now directly owns 43,273 shares of the company’s stock, valued at approximately $778,914. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.33% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in AxoGen during the 1st quarter valued at about $150,000. Bradley Foster & Sargent Inc. CT lifted its holdings in AxoGen by 536.6% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 78,905 shares of the medical equipment provider’s stock valued at $1,322,000 after purchasing an additional 66,510 shares during the last quarter. Renaissance Technologies LLC bought a new position in AxoGen during the 1st quarter valued at about $1,473,000. Vanguard Group Inc. lifted its holdings in AxoGen by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 1,121,824 shares of the medical equipment provider’s stock valued at $11,723,000 after purchasing an additional 35,076 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in AxoGen by 238.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 611,678 shares of the medical equipment provider’s stock valued at $10,245,000 after purchasing an additional 431,057 shares during the last quarter. 66.77% of the stock is owned by hedge funds and other institutional investors.
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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