$26.73 Million in Sales Expected for AxoGen, Inc (NASDAQ:AXGN) This Quarter

Equities research analysts expect AxoGen, Inc (NASDAQ:AXGN) to announce sales of $26.73 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for AxoGen’s earnings. The highest sales estimate is $26.90 million and the lowest is $26.50 million. AxoGen reported sales of $20.59 million during the same quarter last year, which would suggest a positive year over year growth rate of 29.8%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, August 6th.

According to Zacks, analysts expect that AxoGen will report full year sales of $111.83 million for the current financial year, with estimates ranging from $111.00 million to $112.40 million. For the next fiscal year, analysts forecast that the company will report sales of $147.70 million, with estimates ranging from $145.00 million to $150.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for AxoGen.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $23.30 million for the quarter, compared to the consensus estimate of $22.33 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 34.7% on a year-over-year basis.

Several brokerages have commented on AXGN. BTIG Research reaffirmed a “buy” rating and issued a $29.00 price objective on shares of AxoGen in a research report on Friday, May 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective (up previously from $26.00) on shares of AxoGen in a research report on Thursday, May 9th. Canaccord Genuity began coverage on shares of AxoGen in a research report on Friday, July 12th. They issued a “buy” rating and a $32.00 price objective on the stock. BidaskClub lowered shares of AxoGen from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 24th. Finally, ValuEngine raised shares of AxoGen from a “buy” rating to a “strong-buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. AxoGen presently has a consensus rating of “Buy” and a consensus target price of $36.50.

In other AxoGen news, Director Amy Mcbride Wendell purchased 5,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were bought at an average price of $20.25 per share, with a total value of $101,250.00. Following the completion of the transaction, the director now directly owns 23,333 shares in the company, valued at approximately $472,493.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael Patrick Donovan sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the sale, the vice president now directly owns 18,974 shares in the company, valued at approximately $379,480. The disclosure for this sale can be found here. Insiders own 6.77% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of AxoGen by 3.6% in the fourth quarter. BlackRock Inc. now owns 2,597,540 shares of the medical equipment provider’s stock valued at $53,067,000 after purchasing an additional 91,213 shares during the period. Legal & General Group Plc raised its position in shares of AxoGen by 5.8% in the fourth quarter. Legal & General Group Plc now owns 12,826 shares of the medical equipment provider’s stock valued at $262,000 after purchasing an additional 702 shares during the period. Geode Capital Management LLC raised its position in shares of AxoGen by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 383,278 shares of the medical equipment provider’s stock valued at $7,830,000 after purchasing an additional 28,111 shares during the period. United Services Automobile Association raised its position in shares of AxoGen by 300.3% in the fourth quarter. United Services Automobile Association now owns 32,766 shares of the medical equipment provider’s stock valued at $669,000 after purchasing an additional 24,581 shares during the period. Finally, Macquarie Group Ltd. raised its position in shares of AxoGen by 39.6% in the fourth quarter. Macquarie Group Ltd. now owns 38,811 shares of the medical equipment provider’s stock valued at $793,000 after purchasing an additional 11,017 shares during the period. 87.37% of the stock is currently owned by institutional investors.

AXGN stock traded down $0.29 during mid-day trading on Monday, hitting $17.27. The company had a trading volume of 518,120 shares, compared to its average volume of 386,764. The stock has a market cap of $700.23 million, a price-to-earnings ratio of -31.98 and a beta of 0.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.03 and a current ratio of 8.83. AxoGen has a 12 month low of $14.13 and a 12 month high of $46.25. The firm’s fifty day moving average is $19.42.

About AxoGen

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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