AxoGen, Inc (NASDAQ:AXGN) Expected to Announce Quarterly Sales of $28.10 Million

Wall Street analysts forecast that AxoGen, Inc (NASDAQ:AXGN) will post sales of $28.10 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for AxoGen’s earnings. AxoGen posted sales of $22.66 million during the same quarter last year, which suggests a positive year over year growth rate of 24%. The firm is scheduled to report its next earnings report on Monday, November 4th.

On average, analysts expect that AxoGen will report full-year sales of $107.30 million for the current year, with estimates ranging from $107.00 million to $107.80 million. For the next financial year, analysts anticipate that the firm will post sales of $139.83 million, with estimates ranging from $136.60 million to $146.00 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for AxoGen.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.09. AxoGen had a negative net margin of 26.91% and a negative return on equity of 16.73%. The company had revenue of $26.70 million for the quarter, compared to analysts’ expectations of $26.77 million. During the same period in the prior year, the business earned ($0.09) EPS. The firm’s quarterly revenue was up 29.7% on a year-over-year basis.

AXGN has been the topic of several recent research reports. BTIG Research dropped their target price on shares of AxoGen to $21.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Canaccord Genuity set a $30.00 target price on shares of AxoGen and gave the stock a “buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald dropped their target price on shares of AxoGen from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. William Blair cut shares of AxoGen from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 7th. Finally, BidaskClub upgraded shares of AxoGen from a “strong sell” rating to a “sell” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $31.00.

AxoGen stock traded down $0.76 during midday trading on Wednesday, hitting $15.96. 324,345 shares of the company’s stock were exchanged, compared to its average volume of 874,150. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.87 and a current ratio of 8.70. AxoGen has a 12 month low of $11.82 and a 12 month high of $46.25. The firm has a 50-day moving average of $17.52 and a two-hundred day moving average of $19.73. The company has a market cap of $651.63 million, a PE ratio of -29.56 and a beta of 0.18.

In other news, Director Quentin S. Blackford purchased 15,535 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $14.01 per share, for a total transaction of $217,645.35. Following the acquisition, the director now owns 25,098 shares of the company’s stock, valued at $351,622.98. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Karen L. Zaderej purchased 75,000 shares of the stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $13.50 per share, for a total transaction of $1,012,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 593,280 shares in the company, valued at approximately $8,009,280. The disclosure for this purchase can be found here. Insiders bought a total of 102,535 shares of company stock worth $1,434,422 over the last 90 days. Company insiders own 6.77% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of AxoGen by 8.5% in the 2nd quarter. BlackRock Inc. now owns 2,674,036 shares of the medical equipment provider’s stock valued at $52,947,000 after buying an additional 208,805 shares in the last quarter. Vanguard Group Inc. boosted its stake in AxoGen by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,768,572 shares of the medical equipment provider’s stock worth $35,018,000 after purchasing an additional 93,873 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in AxoGen by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,104,983 shares of the medical equipment provider’s stock worth $21,878,000 after purchasing an additional 27,616 shares in the last quarter. Baillie Gifford & Co. boosted its stake in AxoGen by 54.0% in the 1st quarter. Baillie Gifford & Co. now owns 980,700 shares of the medical equipment provider’s stock worth $20,654,000 after purchasing an additional 343,900 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in AxoGen by 25.8% in the 2nd quarter. Bank of America Corp DE now owns 763,705 shares of the medical equipment provider’s stock worth $15,122,000 after purchasing an additional 156,476 shares in the last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.

About AxoGen

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged 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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