Wall Street brokerages expect AxoGen, Inc (NASDAQ:AXGN) to post ($0.05) earnings per share for the current quarter, according to Zacks. Three analysts have issued estimates for AxoGen’s earnings, with estimates ranging from ($0.07) to ($0.01). AxoGen reported earnings per share of ($0.06) in the same quarter last year, which suggests a positive year over year growth rate of 16.7%. The company is expected to announce its next earnings report on Wednesday, November 7th.
On average, analysts expect that AxoGen will report full year earnings of ($0.27) per share for the current financial year, with EPS estimates ranging from ($0.31) to ($0.22). For the next financial year, analysts expect that the company will post earnings of ($0.11) per share, with EPS estimates ranging from ($0.15) to ($0.07). Zacks’ earnings per share calculations are an average based on a survey of analysts that cover AxoGen.
AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, August 1st. The medical equipment provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $20.58 million during the quarter, compared to the consensus estimate of $21.25 million. AxoGen had a negative return on equity of 26.50% and a negative net margin of 24.96%. AxoGen’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) EPS.
AXGN has been the subject of a number of research reports. Leerink Swann reiterated an “outperform” rating and issued a $70.00 price objective on shares of AxoGen in a report on Tuesday, June 26th. BidaskClub downgraded AxoGen from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 12th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $45.00 price objective on shares of AxoGen in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $44.67.
In related news, Director Amy Mcbride Wendell bought 5,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were purchased at an average cost of $36.89 per share, with a total value of $184,450.00. Following the completion of the purchase, the director now owns 18,333 shares in the company, valued at approximately $676,304.37. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.86% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its stake in shares of AxoGen by 844.4% in the second quarter. Meeder Asset Management Inc. now owns 2,427 shares of the medical equipment provider’s stock worth $122,000 after acquiring an additional 2,170 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in shares of AxoGen in the second quarter worth $156,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of AxoGen by 41.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,575 shares of the medical equipment provider’s stock worth $167,000 after acquiring an additional 1,345 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of AxoGen in the second quarter worth $180,000. Finally, Jane Street Group LLC purchased a new stake in shares of AxoGen in the second quarter worth $201,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.
AXGN traded up $1.51 during trading on Friday, reaching $33.98. The stock had a trading volume of 472,619 shares, compared to its average volume of 442,516. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -109.61 and a beta of -0.39. AxoGen has a one year low of $18.85 and a one year high of $56.85.
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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