$32.90 Million in Sales Expected for AxoGen, Inc. (NASDAQ:AXGN) This Quarter

Analysts expect that AxoGen, Inc. (NASDAQ:AXGNGet Rating) will post $32.90 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for AxoGen’s earnings, with the lowest sales estimate coming in at $32.80 million and the highest estimate coming in at $33.00 million. AxoGen reported sales of $33.58 million in the same quarter last year, which would suggest a negative year over year growth rate of 2%. The company is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that AxoGen will report full year sales of $139.40 million for the current financial year, with estimates ranging from $139.00 million to $139.80 million. For the next year, analysts forecast that the business will post sales of $173.15 million, with estimates ranging from $172.00 million to $174.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow AxoGen.

AxoGen (NASDAQ:AXGNGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The medical equipment provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). AxoGen had a negative return on equity of 25.97% and a negative net margin of 24.98%. During the same period in the prior year, the company posted ($0.15) earnings per share.

Several analysts have weighed in on AXGN shares. Canaccord Genuity Group raised AxoGen from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $15.00 in a research note on Monday, May 9th. StockNews.com started coverage on AxoGen in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Canaccord Genuity Group raised AxoGen from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $15.00 in a research note on Monday, May 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, AxoGen currently has a consensus rating of “Buy” and a consensus target price of $20.20.

AxoGen stock traded up $0.54 during mid-day trading on Wednesday, hitting $9.40. 436,883 shares of the company’s stock traded hands, compared to its average volume of 435,370. The firm has a 50 day moving average price of $8.07 and a 200 day moving average price of $9.26. 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 company has a market cap of $394.61 million, a PE ratio of -12.37 and a beta of 0.75. AxoGen has a one year low of $6.87 and a one year high of $22.82.

Several hedge funds have recently modified their holdings of the company. Citigroup Inc. boosted its position in shares of AxoGen by 97.9% in the 3rd quarter. Citigroup Inc. now owns 4,994 shares of the medical equipment provider’s stock valued at $79,000 after purchasing an additional 2,470 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of AxoGen by 1,282.6% in the first quarter. Lazard Asset Management LLC now owns 5,088 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 4,720 shares during the period. Advisor Group Holdings Inc. increased its position in shares of AxoGen by 77.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 5,937 shares of the medical equipment provider’s stock worth $55,000 after acquiring an additional 2,587 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of AxoGen by 428.1% in the third quarter. BNP Paribas Arbitrage SA now owns 6,786 shares of the medical equipment provider’s stock worth $107,000 after acquiring an additional 5,501 shares in the last quarter. Finally, NEXT Financial Group Inc increased its position in shares of AxoGen by 112.8% in the fourth quarter. NEXT Financial Group Inc now owns 9,130 shares of the medical equipment provider’s stock worth $85,000 after acquiring an additional 4,839 shares in the last quarter. Institutional investors own 74.07% of the company’s stock.

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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