AxoGen, Inc. (AXGN) Expected to Post Quarterly Sales of $15.58 Million
Equities analysts expect AxoGen, Inc. (NASDAQ:AXGN) to post sales of $15.58 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for AxoGen’s earnings, with estimates ranging from $15.43 million to $15.80 million. AxoGen posted sales of $11.21 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 39%. The firm 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 year, with estimates ranging from $58.43 million to $59.18 million. For the next financial year, analysts anticipate that the company will report sales of $82.08 million per share, with estimates ranging from $81.18 million to $83.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for AxoGen.
AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Wednesday, August 2nd. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. AxoGen had a negative net margin of 27.50% and a negative return on equity of 114.64%. The business had revenue of $15.20 million during the quarter, compared to analyst estimates of $14.40 million. During the same period last year, the firm posted ($0.09) EPS. The company’s revenue was up 46.2% on a year-over-year basis.
A number of analysts have recently commented on the company. BidaskClub cut AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Roth Capital restated a “buy” rating and issued a $21.00 price objective (up from $18.00) on shares of AxoGen in a research report on Tuesday, September 12th. Cantor Fitzgerald restated a “buy” rating and issued a $18.00 price objective on shares of AxoGen in a research report on Monday, August 21st. Finally, Leerink Swann assumed coverage on AxoGen in a research report on Monday, July 31st. They issued an “outperform” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.40.
Shares of AxoGen (AXGN) opened at 18.65 on Friday. The firm’s 50-day moving average is $17.85 and its 200-day moving average is $14.89. AxoGen has a one year low of $7.65 and a one year high of $19.45. The stock’s market capitalization is $619.93 million.
In other news, Director Robert James Rudelius sold 16,143 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $18.00, for a total value of $290,574.00. Following the completion of the sale, the director now directly owns 43,273 shares in the company, valued at $778,914. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.33% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of AXGN. Teachers Advisors LLC increased its position in shares of AxoGen by 25.5% in the fourth quarter. Teachers Advisors LLC now owns 48,740 shares of the medical equipment provider’s stock valued at $439,000 after buying an additional 9,893 shares in the last quarter. Bank of Montreal Can increased its position in shares of AxoGen by 978.5% in the first quarter. Bank of Montreal Can now owns 14,981 shares of the medical equipment provider’s stock valued at $157,000 after buying an additional 13,592 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of 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 in the last quarter. Trexquant Investment LP purchased a new stake in shares of AxoGen in the first quarter valued at approximately $183,000. Finally, SG Americas Securities LLC purchased a new stake in shares of AxoGen in the first quarter valued at approximately $150,000. Institutional investors and hedge funds own 66.77% 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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