AxoGen, Inc. (AXGN) Expected to Post Quarterly Sales of $15.47 Million
Wall Street brokerages expect AxoGen, Inc. (NASDAQ:AXGN) to announce $15.47 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for AxoGen’s earnings, with the lowest sales estimate coming in at $15.43 million and the highest estimate coming in at $15.50 million. AxoGen reported sales of $11.21 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 38%. The business is expected to report its next earnings report after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that AxoGen will report full-year sales of $15.47 million for the current fiscal year, with estimates ranging from $58.43 million to $59.00 million. For the next fiscal year, analysts forecast that the company will post sales of $82.29 million per share, with estimates ranging from $81.18 million to $83.40 million. Zacks’ sales averages 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 results on Wednesday, August 2nd. The medical equipment provider reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The company 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 firm’s revenue was up 46.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) earnings per share.
Several equities research analysts have issued reports on AXGN shares. Cantor Fitzgerald started coverage on AxoGen in a report on Thursday, June 29th. They set an “overweight” rating and a $18.00 price objective on the stock. BidaskClub downgraded AxoGen from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Leerink Swann started coverage on AxoGen in a report on Monday, July 31st. They set an “outperform” rating and a $22.00 price objective on the stock. Finally, Roth Capital restated a “buy” rating and set a $21.00 price objective (up from $18.00) on shares of AxoGen in a report on Tuesday, September 12th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $17.40.
Shares of AxoGen (NASDAQ:AXGN) traded up 0.75% during trading on Wednesday, reaching $20.15. 255,986 shares of the company’s stock traded hands. The stock’s market capitalization is $669.79 million. AxoGen has a 1-year low of $7.65 and a 1-year high of $20.40. The company has a 50 day moving average price of $18.85 and a 200 day moving average price of $15.81.
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 approximately $778,914. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.33% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC increased its holdings 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 acquiring an additional 93 shares during the last quarter. Nationwide Fund Advisors increased its holdings in shares of AxoGen by 5.5% in the 2nd quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock valued at $249,000 after acquiring an additional 774 shares during the last quarter. Bank of America Corp DE increased its holdings 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 acquiring an additional 814 shares during the last quarter. American International Group Inc. increased its holdings 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 acquiring an additional 1,068 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of AxoGen by 8.3% in the 1st quarter. UBS Group AG now owns 16,141 shares of the medical equipment provider’s stock valued at $169,000 after acquiring an additional 1,234 shares during the last quarter. Institutional investors and hedge funds own 66.71% of the company’s stock.
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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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