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

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

According to Zacks, analysts expect that AxoGen will report full year sales of $107.30 million for the current financial year, with estimates ranging from $107.00 million to $107.80 million. For the next fiscal year, analysts forecast that the company will post sales of $139.83 million, with estimates ranging from $136.60 million to $146.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for AxoGen.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported ($0.10) earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $26.70 million for the quarter, compared to analysts’ expectations of $26.77 million. During the same quarter last year, the company earned ($0.09) EPS. The company’s revenue for the quarter was up 29.7% compared to the same quarter last year.

A number of analysts recently weighed in on the stock. Cantor Fitzgerald dropped their price objective 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. ValuEngine raised shares of AxoGen from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Canaccord Genuity set a $30.00 price objective on shares of AxoGen and gave the stock a “buy” rating in a report on Wednesday, August 7th. BTIG Research dropped their price objective on shares of AxoGen to $21.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, JMP Securities dropped their price objective on shares of AxoGen from $43.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $31.00.

In related news, insider Isabelle Billet bought 5,635 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $15.11 per share, for a total transaction of $85,144.85. Following the transaction, the insider now directly owns 4,630 shares of the company’s stock, valued at approximately $69,959.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CIO Daniel Pietrzak bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average price of $5.65 per share, with a total value of $56,500.00. Insiders purchased a total of 107,535 shares of company stock valued at $1,389,672 in the last quarter. 6.77% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantamental Technologies LLC grew its position in AxoGen by 108.3% in the 1st quarter. Quantamental Technologies LLC now owns 1,431 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 744 shares in the last quarter. Cutler Group LP boosted its position in shares of AxoGen by 120.0% during the 1st quarter. Cutler Group LP now owns 2,200 shares of the medical equipment provider’s stock valued at $46,000 after purchasing an additional 1,200 shares in the last quarter. Advisor Group Inc. boosted its position in shares of AxoGen by 86.3% during the 2nd quarter. Advisor Group Inc. now owns 2,548 shares of the medical equipment provider’s stock valued at $51,000 after purchasing an additional 1,180 shares in the last quarter. Stonebridge Capital Advisors LLC bought a new position in shares of AxoGen during the 2nd quarter valued at about $59,000. Finally, Aperio Group LLC bought a new position in shares of AxoGen during the 2nd quarter valued at about $77,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Shares of AXGN stock traded up $0.23 during trading hours on Thursday, reaching $14.22. The stock had a trading volume of 370,985 shares, compared to its average volume of 577,032. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.70 and a quick ratio of 7.87. AxoGen has a twelve month low of $11.82 and a twelve month high of $39.33. The firm has a 50-day simple moving average of $15.51 and a 200-day simple moving average of $19.46. The firm has a market capitalization of $548.00 million, a PE ratio of -26.33 and a beta of 0.23.

AxoGen Company Profile

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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