William Blair Comments on AxoGen, Inc’s Q2 2018 Earnings (AXGN)

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.

Get AxoGen alerts:

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.

About AxoGen

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.

Earnings History and Estimates for AxoGen (NASDAQ:AXGN)