Brokerages expect AxoGen, Inc (NASDAQ:AXGN) to post ($0.13) earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for AxoGen’s earnings, with the lowest EPS estimate coming in at ($0.14) and the highest estimate coming in at ($0.12). AxoGen reported earnings per share of ($0.09) in the same quarter last year, which would suggest a negative year-over-year growth rate of 44.4%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, August 6th.
According to Zacks, analysts expect that AxoGen will report full year earnings of ($0.50) per share for the current year, with EPS estimates ranging from ($0.57) to ($0.43). For the next year, analysts anticipate that the business will post earnings of ($0.19) per share, with EPS estimates ranging from ($0.39) to ($0.09). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for AxoGen.
AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.01). AxoGen had a negative net margin of 29.19% and a negative return on equity of 15.58%. The company had revenue of $23.30 million for the quarter, compared to analyst estimates of $22.33 million. During the same quarter last year, the company earned ($0.11) EPS. The business’s revenue was up 34.7% compared to the same quarter last year.
Several research firms have recently issued reports on AXGN. BidaskClub downgraded shares of AxoGen from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 24th. BTIG Research restated a “buy” rating and set a $29.00 price objective on shares of AxoGen in a report on Friday, May 10th. Canaccord Genuity began coverage on AxoGen in a research report on Friday, July 12th. They issued a “buy” rating and a $32.00 target price on the stock. ValuEngine upgraded AxoGen from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price (up previously from $26.00) on shares of AxoGen in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $36.50.
In other news, Director Amy Mcbride Wendell bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were purchased at an average price of $20.25 per share, for a total transaction of $101,250.00. Following the completion of the transaction, the director now directly owns 23,333 shares in the company, valued at $472,493.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David K. Hansen sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $22.63, for a total value of $452,600.00. Following the completion of the sale, the vice president now owns 25,588 shares in the company, valued at approximately $579,056.44. The disclosure for this sale can be found here. 6.77% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AXGN. Quantamental Technologies LLC boosted its position in AxoGen by 108.3% in the first 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 during the last quarter. Cutler Group LP boosted its position in AxoGen by 120.0% in the first quarter. Cutler Group LP now owns 2,200 shares of the medical equipment provider’s stock valued at $46,000 after buying an additional 1,200 shares during the last quarter. Advisor Group Inc. boosted its position in AxoGen by 86.3% in the second quarter. Advisor Group Inc. now owns 2,548 shares of the medical equipment provider’s stock valued at $51,000 after buying an additional 1,180 shares during the last quarter. Aperio Group LLC purchased a new stake in AxoGen in the second quarter valued at approximately $77,000. Finally, BNP Paribas Arbitrage SA boosted its position in AxoGen by 8,717.5% in the first quarter. BNP Paribas Arbitrage SA now owns 7,054 shares of the medical equipment provider’s stock valued at $149,000 after buying an additional 6,974 shares during the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.
Shares of AXGN traded down $0.29 during mid-day trading on Friday, hitting $17.27. 518,120 shares of the company traded hands, compared to its average volume of 386,764. AxoGen has a 1-year low of $14.13 and a 1-year high of $46.25. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.83 and a quick ratio of 8.03. The company has a market capitalization of $700.23 million, a P/E ratio of -31.98 and a beta of 0.18. The firm’s 50 day simple moving average is $19.42.
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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