AxoGen (NASDAQ:AXGN) Shares Gap Down on Disappointing Earnings

AxoGen, Inc. (NASDAQ:AXGN)’s stock price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $18.01, but opened at $16.42. AxoGen shares last traded at $19.28, with a volume of 303,184 shares traded.

The medical equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). AxoGen had a negative net margin of 7.91% and a negative return on equity of 14.91%.

Analyst Ratings Changes

Separately, Canaccord Genuity Group upped their price objective on AxoGen from $18.00 to $22.00 and gave the company a “buy” rating in a report on Monday, February 3rd.

Institutional Investors Weigh In On AxoGen

Large investors have recently modified their holdings of the stock. Divisadero Street Capital Management LP boosted its position in shares of AxoGen by 2.7% in the 4th quarter. Divisadero Street Capital Management LP now owns 26,972 shares of the medical equipment provider’s stock valued at $444,000 after purchasing an additional 700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of AxoGen by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider’s stock worth $398,000 after buying an additional 926 shares during the period. Principal Financial Group Inc. raised its holdings in shares of AxoGen by 8.3% during the fourth quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider’s stock valued at $264,000 after acquiring an additional 1,228 shares during the period. Sentry Investment Management LLC lifted its position in shares of AxoGen by 9.3% in the 3rd quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider’s stock valued at $243,000 after acquiring an additional 1,483 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in AxoGen by 2.7% in the 4th quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider’s stock worth $960,000 after purchasing an additional 1,521 shares during the period. 80.29% of the stock is owned by institutional investors.

AxoGen Stock Performance

The firm’s 50-day simple moving average is $17.36 and its two-hundred day simple moving average is $14.87. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $843.23 million, a PE ratio of -60.25 and a beta of 1.00.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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; 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; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.