-$0.08 Earnings Per Share Expected for AxoGen, Inc. (AXGN) This Quarter
Wall Street brokerages expect AxoGen, Inc. (NASDAQ:AXGN) to report ($0.08) earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for AxoGen’s earnings, with estimates ranging from ($0.10) to ($0.06). AxoGen also reported earnings per share of ($0.08) during the same quarter last year. The company is scheduled to report its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that AxoGen will report full year earnings of ($0.33) per share for the current financial year, with EPS estimates ranging from ($0.42) to ($0.28). For the next year, analysts anticipate that the business will report earnings of ($0.09) per share, with EPS estimates ranging from ($0.22) to $0.02. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow AxoGen.
AxoGen (NASDAQ:AXGN) last issued its earnings results on Wednesday, August 2nd. The medical equipment provider reported ($0.06) EPS for the quarter, topping the Zacks’ 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%. The company’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same period last year, the company posted ($0.09) earnings per share.
AXGN has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on shares of AxoGen in a research note on Thursday, June 29th. They issued an “overweight” rating and a $18.00 price target on the stock. BidaskClub downgraded shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Leerink Swann initiated coverage on shares of AxoGen in a research note on Monday, July 31st. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, Roth Capital reissued a “buy” rating and issued a $21.00 price target (up from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $17.40.
Shares of AxoGen (AXGN) remained flat at $18.60 during trading on Wednesday. The company had a trading volume of 183,111 shares. The firm has a 50 day moving average price of $17.67 and a 200 day moving average price of $14.83. AxoGen has a 52 week low of $7.65 and a 52 week high of $19.45. The firm’s market cap is $618.26 million.
In related news, Director Robert James Rudelius sold 16,143 shares of the company’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 transaction of $290,574.00. Following the sale, 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 SEC, which is available through this link. 9.33% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in AXGN. Bank of America Corp DE increased its position in shares of AxoGen by 8.7% in the 1st quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock valued at $106,000 after purchasing an additional 814 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of AxoGen by 0.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock valued at $113,000 after purchasing an additional 93 shares during the last quarter. Thompson Davis & CO. Inc. increased its position in shares of AxoGen by 575.0% in the 2nd 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 last quarter. SG Americas Securities LLC purchased a new stake in shares of AxoGen in the 1st quarter valued at approximately $150,000. Finally, American International Group Inc. increased its position in shares of AxoGen by 7.7% in the 1st 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 last quarter. 66.77% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AxoGen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AxoGen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.