Analysts expect AxoGen, Inc (NASDAQ:AXGN) to post sales of $21.07 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for AxoGen’s earnings, with the lowest sales estimate coming in at $20.61 million and the highest estimate coming in at $21.80 million. AxoGen reported sales of $15.17 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 38.9%. The business is scheduled to announce its next earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that AxoGen will report full year sales of $85.23 million for the current year, with estimates ranging from $84.60 million to $86.10 million. For the next financial year, analysts anticipate that the company will post sales of $119.00 million per share, with estimates ranging from $118.10 million to $120.60 million. Zacks’ sales averages are an average based on a survey of research analysts that cover AxoGen.
AxoGen (NASDAQ:AXGN) last announced its earnings results on Monday, April 30th. The medical equipment provider reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). AxoGen had a negative return on equity of 61.66% and a negative net margin of 18.83%. The firm had revenue of $17.30 million during the quarter, compared to analyst estimates of $17.16 million. The company’s quarterly revenue was up 41.8% compared to the same quarter last year.
Several research analysts have recently issued reports on AXGN shares. BidaskClub raised AxoGen from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 23rd. JMP Securities increased their target price on AxoGen from $27.00 to $34.00 and gave the stock a “market outperform” rating in a research report on Thursday, March 1st. Lake Street Capital set a $38.00 target price on AxoGen and gave the stock a “buy” rating in a research report on Friday, March 2nd. Jefferies Financial Group increased their target price on AxoGen to $45.00 and gave the stock a “buy” rating in a research report on Monday, March 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price (up previously from $37.00) on shares of AxoGen in a research report on Tuesday, May 1st. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $35.57.
Shares of AxoGen traded down $0.65, hitting $49.50, during trading on Friday, MarketBeat Ratings reports. The stock had a trading volume of 439,651 shares, compared to its average volume of 332,389. AxoGen has a 12 month low of $14.25 and a 12 month high of $51.70. The firm has a market capitalization of $1.73 billion, a P/E ratio of -159.68 and a beta of 0.05. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.81 and a current ratio of 3.32.
In related news, SVP Shawn F. Mccarrey sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $43.47, for a total value of $434,700.00. Following the sale, the senior vice president now owns 33,057 shares in the company, valued at approximately $1,436,987.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.86% of the company’s stock.
Several institutional investors have recently bought and sold shares of AXGN. Schwab Charles Investment Management Inc. grew its stake in shares of AxoGen by 33.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 142,239 shares of the medical equipment provider’s stock worth $4,026,000 after buying an additional 35,550 shares during the last quarter. Aperio Group LLC bought a new position in AxoGen in the fourth quarter worth approximately $412,000. Teacher Retirement System of Texas bought a new position in AxoGen in the fourth quarter worth approximately $271,000. Swiss National Bank bought a new position in AxoGen in the fourth quarter worth approximately $1,367,000. Finally, Catalyst Capital Advisors LLC raised its stake in AxoGen by 15.7% in the fourth quarter. Catalyst Capital Advisors LLC now owns 35,300 shares of the medical equipment provider’s stock worth $999,000 after buying an additional 4,800 shares in the last quarter. Institutional investors own 75.64% of the company’s stock.
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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