AxoGen, Inc (NASDAQ:AXGN) – Leerink Swann raised their FY2018 earnings per share estimates for AxoGen in a note issued to investors on Tuesday, October 30th. Leerink Swann analyst R. Newitter now anticipates that the medical equipment provider will post earnings per share of ($0.58) for the year, up from their prior estimate of ($0.61). Leerink Swann currently has a “Outperform” rating and a $55.00 target price on the stock. Leerink Swann also issued estimates for AxoGen’s Q1 2019 earnings at ($0.12) EPS, Q2 2019 earnings at ($0.11) EPS, Q3 2019 earnings at ($0.08) EPS, Q4 2019 earnings at ($0.07) EPS and FY2019 earnings at ($0.38) EPS.
AxoGen (NASDAQ:AXGN) last issued its earnings results on Monday, October 29th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). AxoGen had a negative net margin of 25.39% and a negative return on equity of 18.17%. The firm had revenue of $22.66 million during the quarter, compared to analysts’ expectations of $22.52 million. During the same quarter last year, the company posted ($0.04) earnings per share. The firm’s revenue was up 41.2% compared to the same quarter last year.
Other research analysts have also recently issued research reports about the stock. BidaskClub raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Friday. Cantor Fitzgerald reissued a “buy” rating and set a $45.00 target price on shares of AxoGen in a report on Thursday, August 9th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.83.
Shares of AxoGen stock opened at $36.91 on Friday. AxoGen has a 1 year low of $22.00 and a 1 year high of $56.85. The firm has a market cap of $1.37 billion, a P/E ratio of -119.06 and a beta of -0.39.
In other AxoGen news, Director Amy Mcbride Wendell bought 5,000 shares of AxoGen stock in a transaction that occurred on Tuesday, August 14th. The stock was purchased at an average price of $36.89 per share, with a total value of $184,450.00. Following the completion of the acquisition, the director now directly owns 18,333 shares in the company, valued at approximately $676,304.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.86% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in AxoGen by 18.3% in the second quarter. BlackRock Inc. now owns 2,437,319 shares of the medical equipment provider’s stock valued at $122,476,000 after buying an additional 377,275 shares in the last quarter. Marshall Wace LLP purchased a new position in AxoGen in the second quarter valued at $58,740,000. Renaissance Technologies LLC increased its holdings in AxoGen by 12.4% in the second quarter. Renaissance Technologies LLC now owns 998,300 shares of the medical equipment provider’s stock valued at $50,165,000 after buying an additional 110,500 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in AxoGen by 237.8% in the second quarter. Eagle Asset Management Inc. now owns 906,339 shares of the medical equipment provider’s stock valued at $45,543,000 after buying an additional 638,019 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in AxoGen by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 903,086 shares of the medical equipment provider’s stock valued at $45,380,000 after buying an additional 25,748 shares in the last quarter. 83.79% of the stock is owned by institutional investors.
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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