AxoGen, Inc (NASDAQ:AXGN) Expected to Post Quarterly Sales of $26.73 Million

Wall Street brokerages forecast that AxoGen, Inc (NASDAQ:AXGN) will post $26.73 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for AxoGen’s earnings, with estimates ranging from $26.50 million to $26.90 million. AxoGen reported sales of $20.59 million during the same quarter last year, which indicates a positive year-over-year growth rate of 29.8%. The company is expected to issue its next earnings report on Wednesday, August 7th.

On average, 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 year, analysts expect that the firm will report sales of $147.70 million, with estimates ranging from $145.00 million to $150.30 million. Zacks’ sales averages are an average based on a survey of research firms that follow 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 the consensus estimate of ($0.20) by ($0.01). The company had revenue of $23.30 million during the quarter, compared to the consensus estimate of $22.33 million. AxoGen had a negative net margin of 29.19% and a negative return on equity of 15.58%. The business’s revenue was up 34.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) EPS.

AXGN has been the topic of several recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $29.00 price target on shares of AxoGen in a report on Friday, May 10th. BidaskClub upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. ValuEngine upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, Cantor Fitzgerald set a $26.00 price target on shares of AxoGen and gave the company a “buy” rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. AxoGen has a consensus rating of “Buy” and a consensus price target of $38.00.

In other news, VP Michael Patrick Donovan sold 20,000 shares of the business’s stock in a transaction 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 sale, the vice president now owns 18,974 shares in the company, valued at approximately $379,480. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Amy Mcbride Wendell bought 5,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average price of $20.25 per share, for a total transaction of $101,250.00. Following the acquisition, the director now owns 23,333 shares in the company, valued at approximately $472,493.25. The disclosure for this purchase can be found here. Insiders own 7.86% of the company’s stock.

Several hedge funds have recently made changes to their positions in AXGN. Advisor Group Inc. boosted its holdings in shares of AxoGen by 130.3% during the 1st quarter. Advisor Group Inc. now owns 1,368 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 774 shares in the last quarter. Quantamental Technologies LLC boosted its holdings in shares of AxoGen by 108.3% during the 1st 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 in the last quarter. Cutler Group LP boosted its holdings in shares of AxoGen by 120.0% during the 1st 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 in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of AxoGen during the 4th quarter valued at $77,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of AxoGen during the 4th quarter valued at $131,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

NASDAQ:AXGN opened at $20.25 on Thursday. AxoGen has a twelve month low of $14.13 and a twelve month high of $56.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.03 and a current ratio of 8.83.

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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