AxoGen, Inc. (NASDAQ:AXGN) Expected to Announce Quarterly Sales of $30.40 Million

Wall Street analysts expect AxoGen, Inc. (NASDAQ:AXGNGet Rating) to post sales of $30.40 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for AxoGen’s earnings, with the lowest sales estimate coming in at $30.00 million and the highest estimate coming in at $30.80 million. AxoGen reported sales of $31.04 million during the same quarter last year, which indicates a negative year over year growth rate of 2.1%. The firm is scheduled to announce its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that AxoGen will report full year sales of $138.60 million for the current year, with estimates ranging from $137.70 million to $139.50 million. For the next fiscal year, analysts anticipate that the firm will report sales of $171.75 million, with estimates ranging from $171.30 million to $172.20 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow AxoGen.

AxoGen (NASDAQ:AXGNGet Rating) last issued its quarterly earnings data on Tuesday, February 22nd. The medical equipment provider reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. AxoGen had a negative return on equity of 21.12% and a negative net margin of 21.19%. The business had revenue of $31.54 million for the quarter, compared to the consensus estimate of $31.50 million. During the same period in the prior year, the business posted ($0.15) earnings per share.

AXGN has been the subject of a number of recent research reports. Canaccord Genuity Group reduced their price objective on AxoGen from $15.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, February 23rd. StockNews.com assumed coverage on AxoGen in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.75.

Institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP purchased a new position in AxoGen in the third quarter valued at about $48,000. Advisor Group Holdings Inc. increased its holdings in AxoGen by 77.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 5,937 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 2,587 shares in the last quarter. HighMark Wealth Management LLC increased its holdings in AxoGen by 266.1% in the third quarter. HighMark Wealth Management LLC now owns 4,335 shares of the medical equipment provider’s stock valued at $68,000 after buying an additional 3,151 shares in the last quarter. Citigroup Inc. increased its holdings in AxoGen by 97.9% in the third quarter. Citigroup Inc. now owns 4,994 shares of the medical equipment provider’s stock valued at $79,000 after buying an additional 2,470 shares in the last quarter. Finally, NEXT Financial Group Inc increased its holdings in AxoGen by 112.8% in the fourth quarter. NEXT Financial Group Inc now owns 9,130 shares of the medical equipment provider’s stock valued at $85,000 after buying an additional 4,839 shares in the last quarter. Institutional investors and hedge funds own 73.69% of the company’s stock.

AxoGen stock opened at $7.47 on Wednesday. The stock has a market capitalization of $313.57 million, a price-to-earnings ratio of -11.49 and a beta of 0.73. The company has a debt-to-equity ratio of 0.58, a current ratio of 5.23 and a quick ratio of 4.54. The business has a fifty day moving average price of $8.21 and a 200-day moving average price of $10.02. AxoGen has a 1-year low of $6.87 and a 1-year high of $23.94.

AxoGen Company Profile (Get Rating)

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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