AxoGen, Inc. (AXGN) Expected to Post Earnings of -$0.08 Per Share
Wall Street analysts predict that AxoGen, Inc. (NASDAQ:AXGN) will post earnings per share of ($0.08) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for AxoGen’s earnings, with estimates ranging from ($0.10) to ($0.06). AxoGen also reported earnings of ($0.08) per share in the same quarter last year. The company is expected to report its next quarterly earnings report after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that AxoGen will report full-year earnings of ($0.33) per share for the current year, with EPS estimates ranging from ($0.42) to ($0.28). For the next fiscal year, analysts expect that the firm will post earnings of ($0.09) per share, with EPS estimates ranging from ($0.22) to $0.02. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for AxoGen.
AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, August 2nd. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. AxoGen had a negative return on equity of 114.64% and a negative net margin of 27.50%. The firm had revenue of $15.20 million during the quarter, compared to analysts’ expectations of $14.40 million. During the same period in the prior year, the business earned ($0.09) EPS. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year.
A number of research analysts have recently weighed in on AXGN shares. Roth Capital restated a “buy” rating and set a $21.00 price objective (up previously from $18.00) on shares of AxoGen in a research report on Tuesday, September 12th. Leerink Swann restated an “outperform” rating and set a $23.00 price objective (up previously from $22.00) on shares of AxoGen in a research report on Saturday, September 30th. Cantor Fitzgerald started coverage on AxoGen in a research report on Thursday, June 29th. They set an “overweight” rating and a $18.00 price objective for the company. Finally, BidaskClub lowered AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. AxoGen has an average rating of “Buy” and an average target price of $17.40.
In related news, Director Robert James Rudelius sold 16,143 shares of AxoGen stock in a transaction dated 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 transaction, the director now owns 43,273 shares in the company, valued at $778,914. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 9.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC lifted its stake in AxoGen by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock worth $113,000 after purchasing an additional 93 shares during the last quarter. Nationwide Fund Advisors lifted its stake in AxoGen by 5.5% in the second quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock worth $249,000 after purchasing an additional 774 shares during the last quarter. Bank of America Corp DE lifted its stake in AxoGen by 8.7% in the first quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock worth $106,000 after purchasing an additional 814 shares during the last quarter. American International Group Inc. lifted its stake in AxoGen by 7.7% in the first quarter. American International Group Inc. now owns 14,941 shares of the medical equipment provider’s stock worth $156,000 after purchasing an additional 1,068 shares during the last quarter. Finally, UBS Group AG lifted its stake in AxoGen by 8.3% in the first quarter. UBS Group AG now owns 16,141 shares of the medical equipment provider’s stock worth $169,000 after purchasing an additional 1,234 shares during the last quarter. 66.47% of the stock is owned by institutional investors and hedge funds.
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AxoGen (NASDAQ AXGN) remained flat at $20.00 during trading on Monday. The stock had a trading volume of 42,489 shares. The company’s market capitalization is $664.80 million. AxoGen has a 52-week low of $7.65 and a 52-week high of $20.40. The stock’s 50-day moving average price is $18.76 and its 200-day moving average price is $15.60.
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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