AxoGen (NASDAQ:AXGN) Posts Earnings Results, Misses Estimates By $0.05 EPS

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

Shares of AXGN traded down $0.74 on Friday, hitting $9.03. 552,228 shares of the stock traded hands, compared to its average volume of 284,794. The company has a quick ratio of 4.54, a current ratio of 5.23 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $379.08 million, a P/E ratio of -11.88 and a beta of 0.75. The stock’s 50 day moving average is $8.07 and its two-hundred day moving average is $9.44. AxoGen has a 1 year low of $6.87 and a 1 year high of $23.94.

AXGN has been the subject of a number of research analyst reports. Canaccord Genuity Group dropped their price target 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.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG lifted its stake in shares of AxoGen by 3.9% during the fourth quarter. Deutsche Bank AG now owns 32,758 shares of the medical equipment provider’s stock valued at $307,000 after buying an additional 1,218 shares during the period. Royal Bank of Canada lifted its stake in shares of AxoGen by 15.9% during the third quarter. Royal Bank of Canada now owns 11,198 shares of the medical equipment provider’s stock valued at $176,000 after buying an additional 1,536 shares during the period. California State Teachers Retirement System lifted its stake in shares of AxoGen by 3.3% during the fourth quarter. California State Teachers Retirement System now owns 54,123 shares of the medical equipment provider’s stock valued at $507,000 after buying an additional 1,716 shares during the period. Stifel Financial Corp increased its position in AxoGen by 28.6% during the fourth quarter. Stifel Financial Corp now owns 17,532 shares of the medical equipment provider’s stock worth $164,000 after purchasing an additional 3,899 shares during the last quarter. Finally, Invesco Ltd. increased its position in AxoGen by 25.7% during the third quarter. Invesco Ltd. now owns 21,956 shares of the medical equipment provider’s stock worth $348,000 after purchasing an additional 4,489 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

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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