Analysts Anticipate AxoGen, Inc. (NASDAQ:AXGN) Will Announce Quarterly Sales of $28.65 Million

Brokerages expect AxoGen, Inc. (NASDAQ:AXGN) to report $28.65 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for AxoGen’s earnings. The lowest sales estimate is $28.00 million and the highest is $29.30 million. AxoGen reported sales of $24.26 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18.1%. The business is expected to announce its next earnings report after the market closes on Wednesday, May 5th.

On average, analysts expect that AxoGen will report full year sales of $125.55 million for the current fiscal year, with estimates ranging from $124.00 million to $127.10 million. For the next year, analysts expect that the firm will report 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 research firms that follow AxoGen.

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

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

A number of institutional investors and hedge funds have recently bought and sold shares of AXGN. Janus Henderson Group PLC boosted its stake in AxoGen by 16.1% during the fourth quarter. Janus Henderson Group PLC now owns 1,505,232 shares of the medical equipment provider’s stock worth $26,944,000 after buying an additional 208,820 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in AxoGen by 110.7% during the fourth quarter. JPMorgan Chase & Co. now owns 287,928 shares of the medical equipment provider’s stock worth $5,155,000 after buying an additional 151,266 shares in the last quarter. BlackRock Inc. boosted its stake in AxoGen by 5.0% during the fourth quarter. BlackRock Inc. now owns 3,006,028 shares of the medical equipment provider’s stock worth $53,807,000 after buying an additional 142,239 shares in the last quarter. William Blair Investment Management LLC boosted its stake in 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 buying an additional 82,686 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its stake in AxoGen by 7.5% during the fourth quarter. Baillie Gifford & Co. now owns 1,161,752 shares of the medical equipment provider’s stock worth $20,795,000 after buying an additional 81,068 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

AXGN stock traded down $0.71 during midday trading on Friday, hitting $18.64. 5,826 shares of the company traded hands, compared to its average volume of 238,005. AxoGen has a twelve month low of $7.65 and a twelve month high of $22.89. The company has a quick ratio of 6.81, a current ratio of 7.45 and a debt-to-equity ratio of 0.42. The business has a 50 day simple moving average of $19.59 and a 200-day simple moving average of $17.85. The stock has a market capitalization of $759.99 million, a price-to-earnings ratio of -30.71 and a beta of 0.71.

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.

Recommended Story: Return on Equity (ROE)

Get a free copy of the Zacks research report on AxoGen (AXGN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for AxoGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AxoGen and related companies with MarketBeat.com's FREE daily email newsletter.