$28.65 Million in Sales Expected for AxoGen, Inc. (NASDAQ:AXGN) This Quarter


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Wall Street brokerages predict that AxoGen, Inc. (NASDAQ:AXGN) will report $28.65 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for AxoGen’s earnings. The highest sales estimate is $29.30 million and the lowest is $28.00 million. AxoGen posted sales of $24.26 million during the same quarter last year, which suggests a positive year-over-year growth rate of 18.1%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, May 5th.

According to Zacks, analysts expect that AxoGen will report full-year sales of $125.55 million for the current year, with estimates ranging from $124.00 million to $127.10 million. For the next year, analysts expect that the company will post sales of $144.90 million, with estimates ranging from $141.50 million to $148.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover AxoGen.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Sunday, February 21st. The medical equipment provider reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.08. The business had revenue of $32.50 million for the quarter, compared to analysts’ expectations of $32.40 million. AxoGen had a negative return on equity of 19.83% and a negative net margin of 22.98%.

Several equities analysts recently issued reports on AXGN shares. SVB Leerink raised their price target on AxoGen from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, March 1st. Canaccord Genuity raised their price target on AxoGen from $20.00 to $21.00 and gave the company a “hold” rating in a report on Monday, March 1st. Finally, Cantor Fitzgerald raised their target price on AxoGen from $16.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, January 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $23.75.

AxoGen stock traded up $1.01 during mid-day trading on Wednesday, hitting $19.29. The stock had a trading volume of 218,951 shares, compared to its average volume of 242,541. The stock has a 50-day simple moving average of $20.01 and a two-hundred day simple moving average of $17.48. The stock has a market capitalization of $786.49 million, a PE ratio of -30.62 and a beta of 0.71. AxoGen has a 12 month low of $7.42 and a 12 month high of $22.89. The company has a current ratio of 7.45, a quick ratio of 6.81 and a debt-to-equity ratio of 0.42.

Institutional investors and hedge funds have recently modified their holdings of the business. Advisory Research Inc. bought a new position in AxoGen during the fourth quarter worth about $466,000. Skandinaviska Enskilda Banken AB publ raised its position in shares of AxoGen by 27.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 90,137 shares of the medical equipment provider’s stock worth $1,613,000 after purchasing an additional 19,431 shares during the period. Exchange Traded Concepts LLC raised its position in shares of AxoGen by 83.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 104,869 shares of the medical equipment provider’s stock worth $1,877,000 after purchasing an additional 47,683 shares during the period. William Blair Investment Management LLC raised its position in shares of AxoGen by 6.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,351,771 shares of the medical equipment provider’s stock worth $24,197,000 after purchasing an additional 82,686 shares during the period. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of AxoGen during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and markets surgical solutions for physical damage or transection to peripheral nerves. The company's products include Avance Nerve Graft, a biologically active 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 peripheral 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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