$16.07 Million in Sales Expected for AxoGen, Inc. (AXGN) This Quarter

Equities analysts predict that AxoGen, Inc. (NASDAQ:AXGN) will post $16.07 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for AxoGen’s earnings. The lowest sales estimate is $15.70 million and the highest is $16.50 million. AxoGen reported sales of $11.41 million during the same quarter last year, which indicates a positive year-over-year growth rate of 40.8%. The business is scheduled to issue its next earnings results on Wednesday, February 28th.

On average, analysts expect that AxoGen will report full year sales of $16.07 million for the current financial year, with estimates ranging from $59.20 million to $60.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $83.77 million per share, with estimates ranging from $83.50 million to $84.20 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover AxoGen.

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

Several equities research analysts recently weighed in on AXGN shares. Jefferies Group started coverage on shares of AxoGen in a report on Thursday, November 30th. They issued a “buy” rating and a $35.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of AxoGen in a report on Friday, January 5th. Lake Street Capital upped their price objective on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 21st. Leerink Swann upped their price objective on shares of AxoGen from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, November 21st. Finally, Wedbush reiterated a “buy” rating and issued a $27.00 price target (up from $22.00) on shares of AxoGen in a research report on Tuesday, November 21st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $29.33.

AxoGen (AXGN) traded down $0.35 during mid-day trading on Tuesday, reaching $27.75. 198,500 shares of the company traded hands, compared to its average volume of 338,000. The firm has a market capitalization of $958.04, a P/E ratio of -69.38 and a beta of 0.40. AxoGen has a 1-year low of $8.75 and a 1-year high of $31.70. The company has a quick ratio of 2.95, a current ratio of 3.55 and a debt-to-equity ratio of 1.93.

In other AxoGen news, Director Jamie Mark Grooms sold 21,290 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $26.22, for a total value of $558,223.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Guido J. Neels sold 1,150,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.74, for a total value of $22,701,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,293,990 shares of company stock worth $26,494,898. 9.33% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of AxoGen by 9.0% during the second quarter. Vanguard Group Inc. now owns 1,223,069 shares of the medical equipment provider’s stock valued at $20,486,000 after acquiring an additional 101,245 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of AxoGen by 293.9% in the third quarter. Bank of New York Mellon Corp now owns 631,563 shares of the medical equipment provider’s stock worth $12,222,000 after purchasing an additional 471,209 shares during the last quarter. State Street Corp boosted its position in AxoGen by 19.6% during the 2nd quarter. State Street Corp now owns 438,641 shares of the medical equipment provider’s stock valued at $7,350,000 after acquiring an additional 71,752 shares in the last quarter. Castleark Management LLC bought a new stake in AxoGen during the 2nd quarter valued at approximately $5,426,000. Finally, Northern Trust Corp boosted its position in AxoGen by 7.8% during the 2nd quarter. Northern Trust Corp now owns 308,360 shares of the medical equipment provider’s stock valued at $5,165,000 after acquiring an additional 22,319 shares in the last quarter. Hedge funds and other institutional investors own 66.08% of the company’s stock.

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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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