AxoGen (NASDAQ:AXGN) Issues Earnings Results

AxoGen (NASDAQ:AXGNGet Rating) announced its quarterly earnings data on Wednesday. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.09, Fidelity Earnings reports. AxoGen had a negative return on equity of 22.72% and a negative net margin of 24.68%. During the same quarter in the previous year, the business earned ($0.18) earnings per share.

AxoGen Price Performance

Shares of AxoGen stock traded up $0.07 during trading hours on Friday, hitting $10.56. The company’s stock had a trading volume of 147,122 shares, compared to its average volume of 313,013. The business has a 50 day moving average price of $9.03 and a two-hundred day moving average price of $8.60. AxoGen has a 12-month low of $6.87 and a 12-month high of $19.40. The company has a market cap of $443.32 million, a PE ratio of -14.08 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.14 and a current ratio of 4.90.

Institutional Investors Weigh In On AxoGen

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC lifted its position 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 in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of AxoGen in the first quarter worth about $117,000. PDT Partners LLC lifted its position in shares of AxoGen by 77.1% in the first quarter. PDT Partners LLC now owns 18,337 shares of the medical equipment provider’s stock worth $146,000 after buying an additional 7,985 shares in the last quarter. JPMorgan Chase & Co. increased its stake in AxoGen by 22.5% during the first quarter. JPMorgan Chase & Co. now owns 18,479 shares of the medical equipment provider’s stock worth $146,000 after acquiring an additional 3,397 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in AxoGen by 55.4% during the first quarter. MetLife Investment Management LLC now owns 23,064 shares of the medical equipment provider’s stock worth $183,000 after acquiring an additional 8,224 shares during the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on AXGN shares. Canaccord Genuity Group raised AxoGen from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $15.00 in a report on Monday, May 9th. Canaccord Genuity Group raised AxoGen from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $15.00 in a report on Monday, May 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.67.

About AxoGen

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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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Earnings History for AxoGen (NASDAQ:AXGN)

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