AxoGen, Inc (NASDAQ:AXGN) – Analysts at William Blair raised their Q2 2018 earnings estimates for AxoGen in a research report issued on Monday, May 14th. William Blair analyst K. Krum now expects that the medical equipment provider will post earnings per share of ($0.04) for the quarter, up from their prior forecast of ($0.05). William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for AxoGen’s Q4 2018 earnings at ($0.03) EPS and FY2018 earnings at ($0.25) EPS.
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AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Monday, April 30th. The medical equipment provider reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $17.30 million for the quarter, compared to analysts’ expectations of $17.16 million. AxoGen had a negative return on equity of 61.66% and a negative net margin of 18.83%. The company’s revenue for the quarter was up 41.8% compared to the same quarter last year.
Other analysts have also recently issued research reports about the company. Jefferies Group increased their price objective on AxoGen to $45.00 and gave the stock a “buy” rating in a report on Monday, March 19th. Lake Street Capital set a $38.00 price objective on AxoGen and gave the stock a “buy” rating in a report on Friday, March 2nd. JMP Securities increased their price objective on AxoGen from $27.00 to $34.00 and gave the stock a “market outperform” rating in a report on Thursday, March 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective (up previously from $37.00) on shares of AxoGen in a report on Tuesday, May 1st. Finally, ValuEngine raised AxoGen from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. AxoGen currently has an average rating of “Buy” and a consensus target price of $35.57.
Shares of AXGN opened at $43.95 on Wednesday. The stock has a market cap of $1.54 billion, a P/E ratio of -141.77 and a beta of -0.04. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.81 and a current ratio of 3.32. AxoGen has a 52-week low of $42.95 and a 52-week high of $43.90.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pennsylvania Trust Co increased its stake in AxoGen by 7.0% in the 4th quarter. Pennsylvania Trust Co now owns 152,370 shares of the medical equipment provider’s stock worth $4,312,000 after acquiring an additional 10,000 shares during the last quarter. William Blair Investment Management LLC bought a new position in AxoGen in the 4th quarter worth about $5,081,000. BlackRock Inc. increased its stake in AxoGen by 29.7% in the 4th quarter. BlackRock Inc. now owns 1,785,891 shares of the medical equipment provider’s stock worth $50,540,000 after acquiring an additional 408,596 shares during the last quarter. Renaissance Technologies LLC increased its stake in AxoGen by 63.5% in the 4th quarter. Renaissance Technologies LLC now owns 657,800 shares of the medical equipment provider’s stock worth $18,616,000 after acquiring an additional 255,400 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in AxoGen by 4.9% in the 3rd quarter. California Public Employees Retirement System now owns 137,536 shares of the medical equipment provider’s stock worth $2,661,000 after acquiring an additional 6,436 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.
In other AxoGen news, Director Jamie Mark Grooms sold 63,395 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $27.67, for a total value of $1,754,139.65. Following the transaction, the director now directly owns 5,827 shares in the company, valued at approximately $161,233.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.86% of the stock is owned by corporate insiders.
AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical solutions include Avance Nerve Graft, an 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 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.