$32.30 Million in Sales Expected for AxoGen, Inc. (NASDAQ:AXGN) This Quarter

Brokerages expect that AxoGen, Inc. (NASDAQ:AXGN) will report sales of $32.30 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for AxoGen’s earnings, with the lowest sales estimate coming in at $32.00 million and the highest estimate coming in at $32.60 million. AxoGen posted sales of $22.12 million in the same quarter last year, which suggests a positive year-over-year growth rate of 46%. The company is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, August 4th.

According to Zacks, analysts expect that AxoGen will report full year sales of $134.55 million for the current year, with estimates ranging from $134.30 million to $134.80 million. For the next year, analysts anticipate that the firm will post sales of $152.20 million, with estimates ranging from $148.30 million to $156.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover AxoGen.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Tuesday, May 4th. The medical equipment provider reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.12. The business had revenue of $31.04 million during the quarter, compared to analyst estimates of $28.65 million. AxoGen had a negative net margin of 18.69% and a negative return on equity of 17.69%.

Several brokerages recently issued reports on AXGN. SVB Leerink reiterated a “buy” rating and set a $27.00 price target on shares of AxoGen in a report on Monday, May 31st. Canaccord Genuity restated a “hold” rating and set a $24.00 price target on shares of AxoGen in a research note on Tuesday, May 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $24.50.

In other AxoGen news, insider Maria D. Martinez sold 2,652 shares of the firm’s stock in a transaction on Friday, June 4th. The shares were sold at an average price of $18.86, for a total value of $50,016.72. Following the completion of the transaction, the insider now owns 2,932 shares of the company’s stock, valued at $55,297.52. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.30% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. First Light Asset Management LLC boosted its stake in AxoGen by 19.6% during the first quarter. First Light Asset Management LLC now owns 2,557,412 shares of the medical equipment provider’s stock worth $51,813,000 after buying an additional 418,278 shares during the period. Advisory Research Inc. acquired a new position in shares of AxoGen during the 4th quarter worth $466,000. William Blair Investment Management LLC lifted its stake in AxoGen by 8.4% in the 1st quarter. William Blair Investment Management LLC now owns 1,465,047 shares of the medical equipment provider’s stock valued at $29,682,000 after buying an additional 113,276 shares in the last quarter. Baillie Gifford & Co. raised its stake in AxoGen by 0.9% during the first quarter. Baillie Gifford & Co. now owns 1,171,734 shares of the medical equipment provider’s stock worth $23,739,000 after purchasing an additional 9,982 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in AxoGen by 3.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 22,745 shares of the medical equipment provider’s stock valued at $407,000 after buying an additional 735 shares during the period. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ AXGN traded down $0.36 during trading hours on Friday, hitting $19.81. The company’s stock had a trading volume of 816 shares, compared to its average volume of 132,201. The stock has a market capitalization of $812.21 million, a P/E ratio of -35.91 and a beta of 0.72. The company has a debt-to-equity ratio of 0.44, a current ratio of 6.07 and a quick ratio of 5.47. AxoGen has a 52 week low of $10.41 and a 52 week high of $23.94. The company’s 50-day moving average price is $20.68.

AxoGen Company Profile

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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