$16.06 Million in Sales Expected for AxoGen, Inc. (AXGN) This Quarter

Wall Street brokerages forecast that AxoGen, Inc. (NASDAQ:AXGN) will report $16.06 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for AxoGen’s earnings, with the lowest sales estimate coming in at $16.01 million and the highest estimate coming in at $16.10 million. AxoGen reported sales of $11.41 million in the same quarter last year, which indicates a positive year-over-year growth rate of 40.8%. The business is expected to issue its next earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that AxoGen will report full year sales of $16.06 million for the current fiscal year, with estimates ranging from $59.46 million to $59.60 million. For the next year, analysts forecast that the firm will post sales of $83.71 million per share, with estimates ranging from $83.61 million to $83.80 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover AxoGen.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. The company had revenue of $16.05 million for the quarter, compared to analysts’ expectations of $15.55 million. The firm’s quarterly revenue was up 43.2% on a year-over-year basis.

AXGN has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $18.00 target price on shares of AxoGen in a report on Monday, August 21st. Roth Capital reiterated a “buy” rating and issued a $21.00 target price (up from $18.00) on shares of AxoGen in a report on Tuesday, September 12th. Leerink Swann reiterated an “outperform” rating and issued a $23.00 target price (up from $22.00) on shares of AxoGen in a report on Saturday, September 30th. Wedbush reiterated a “buy” rating and issued a $27.00 target price (up from $22.00) on shares of AxoGen in a report on Tuesday, November 21st. Finally, Lake Street Capital increased their target price on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 21st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. AxoGen currently has a consensus rating of “Buy” and a consensus price target of $26.17.

In other AxoGen news, Director Guido J. Neels sold 1,150,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $19.74, for a total transaction of $22,701,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert James Rudelius sold 16,143 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $18.00, for a total value of $290,574.00. Following the transaction, the director now owns 43,273 shares in the company, valued at $778,914. The disclosure for this sale can be found here. 9.33% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of AXGN. Bank of America Corp DE lifted its stake in AxoGen by 8.7% during 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 in the last quarter. Parametric Portfolio Associates LLC lifted its stake in AxoGen by 0.9% during 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 in the last quarter. Thompson Davis & CO. Inc. lifted its stake in AxoGen by 575.0% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the medical equipment provider’s stock valued at $113,000 after acquiring an additional 5,750 shares in the last quarter. American International Group Inc. lifted its stake in AxoGen by 7.7% during 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 in the last quarter. Finally, UBS Group AG lifted its stake in AxoGen by 8.3% during 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 in the last quarter. Institutional investors and hedge funds own 67.26% of the company’s stock.

Shares of AxoGen (NASDAQ AXGN) traded down $0.30 on Friday, hitting $26.40. The company had a trading volume of 415,183 shares, compared to its average volume of 362,027. AxoGen has a 12 month low of $8.05 and a 12 month high of $27.60. The company has a current ratio of 3.55, a quick ratio of 2.95 and a debt-to-equity ratio of 1.93.

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About AxoGen

AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company’s 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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Earnings History and Estimates for AxoGen (NASDAQ:AXGN)

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