AxoGen (NASDAQ:AXGN) Announces Quarterly Earnings Results

AxoGen (NASDAQ:AXGNGet Rating) released its quarterly earnings data on Wednesday. The medical equipment provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05), MarketWatch Earnings reports. AxoGen had a negative return on equity of 25.97% and a negative net margin of 24.98%. During the same period in the previous year, the firm posted ($0.15) earnings per share.

Shares of AXGN stock traded down $0.74 during mid-day trading on Friday, reaching $9.03. The stock had a trading volume of 552,228 shares, compared to its average volume of 284,794. AxoGen has a 12-month low of $6.87 and a 12-month high of $23.94. The company has a market cap of $379.08 million, a P/E ratio of -11.88 and a beta of 0.75. The business has a 50-day simple moving average of $8.07 and a 200 day simple moving average of $9.44. The company has a current ratio of 5.23, a quick ratio of 4.54 and a debt-to-equity ratio of 0.58.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of AxoGen by 2.4% in the fourth quarter. BlackRock Inc. now owns 3,009,148 shares of the medical equipment provider’s stock valued at $28,195,000 after buying an additional 71,950 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of AxoGen by 30.7% during the 4th quarter. William Blair Investment Management LLC now owns 1,593,287 shares of the medical equipment provider’s stock worth $14,929,000 after purchasing an additional 374,221 shares during the last quarter. State Street Corp grew its holdings in shares of AxoGen by 7.8% during the fourth quarter. State Street Corp now owns 1,048,238 shares of the medical equipment provider’s stock worth $9,822,000 after buying an additional 76,213 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of AxoGen by 29.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 790,109 shares of the medical equipment provider’s stock valued at $7,403,000 after buying an additional 180,185 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of AxoGen by 11.0% during the fourth quarter. Geode Capital Management LLC now owns 676,988 shares of the medical equipment provider’s stock valued at $6,343,000 after buying an additional 66,916 shares during the period. Institutional investors and hedge funds own 74.07% of the company’s stock.

AXGN has been the subject of several research analyst reports. Canaccord Genuity Group cut their price objective on AxoGen from $15.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, February 23rd. StockNews.com initiated coverage on AxoGen in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.75.

About AxoGen (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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Earnings History for AxoGen (NASDAQ:AXGN)

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