Zacks: Brokerages Expect AxoGen, Inc. (NASDAQ:AXGN) Will Announce Earnings of -$0.12 Per Share

Brokerages expect AxoGen, Inc. (NASDAQ:AXGN) to post earnings per share of ($0.12) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for AxoGen’s earnings, with estimates ranging from ($0.12) to ($0.11). AxoGen reported earnings of ($0.15) per share during the same quarter last year, which indicates a positive year over year growth rate of 20%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, August 4th.

On average, analysts expect that AxoGen will report full year earnings of ($0.46) per share for the current financial year, with EPS estimates ranging from ($0.48) to ($0.41). For the next year, analysts forecast that the business will post earnings of ($0.13) per share, with EPS estimates ranging from ($0.37) to $0.24. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for AxoGen.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Tuesday, May 4th. The medical equipment provider reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.12. AxoGen had a negative net margin of 18.69% and a negative return on equity of 17.69%. The business had revenue of $31.04 million during the quarter, compared to analysts’ expectations of $28.65 million.

AXGN has been the subject of a number of analyst reports. Canaccord Genuity reissued a “hold” rating and issued a $24.00 price objective on shares of AxoGen in a research note on Tuesday, May 25th. SVB Leerink reissued a “buy” rating and issued a $27.00 price objective on shares of AxoGen in a research note on Monday, May 31st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $24.50.

In other AxoGen news, insider Maria D. Martinez sold 2,652 shares of the stock in a transaction on Friday, June 4th. The shares were sold at an average price of $18.86, for a total transaction of $50,016.72. Following the completion of the transaction, the insider now owns 2,932 shares in the company, valued at $55,297.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in AXGN. Wells Fargo & Company MN lifted its holdings in shares of AxoGen by 1.0% in the 4th quarter. Wells Fargo & Company MN now owns 137,166 shares of the medical equipment provider’s stock worth $2,455,000 after acquiring an additional 1,306 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of AxoGen by 5.1% in the 4th quarter. Rhumbline Advisers now owns 45,973 shares of the medical equipment provider’s stock worth $823,000 after acquiring an additional 2,250 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of AxoGen by 303.3% in the 4th quarter. Citigroup Inc. now owns 8,563 shares of the medical equipment provider’s stock worth $153,000 after acquiring an additional 6,440 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of AxoGen by 238.1% in the 4th quarter. Lazard Asset Management LLC now owns 3,090 shares of the medical equipment provider’s stock worth $55,000 after acquiring an additional 2,176 shares during the last quarter. Finally, Credit Suisse AG lifted its holdings in shares of AxoGen by 59.6% in the 4th quarter. Credit Suisse AG now owns 46,845 shares of the medical equipment provider’s stock worth $840,000 after acquiring an additional 17,501 shares during the last quarter. Hedge funds and other institutional investors own 75.88% of the company’s stock.

AXGN stock traded down $0.38 during midday trading on Thursday, reaching $19.79. 831 shares of the company’s stock traded hands, compared to its average volume of 132,201. AxoGen has a 52-week low of $10.41 and a 52-week high of $23.94. The company has a market cap of $811.39 million, a PE ratio of -35.91 and a beta of 0.72. The company has a current ratio of 6.07, a quick ratio of 5.47 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average is $20.68.

About AxoGen

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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