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AxoGen (AXGN) Surges 8.2%: Is This an Indication of Further Gains?
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AxoGen (AXGN - Free Report) shares soared 8.2% in the last trading session to close at $14.71. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.2% gain over the past four weeks.
Axogen scored a strong price increase driven by bullish market sentiment surrounding Fed minutes released on Wednesday. For investors' note Fed made an aggressive 50-bps rate cut on Sept.18 which is expected to boost the investment and research scenario within the MedTech sector.
This regenerative medicine company is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $47 million, up 13.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For AxoGen, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AXGN going forward to see if this recent jump can turn into more strength down the road.
AxoGen is part of the Zacks Medical - Instruments industry. Integer (ITGR - Free Report) , another stock in the same industry, closed the last trading session 0.8% higher at $129.24. ITGR has returned 1.6% in the past month.
Integer's consensus EPS estimate for the upcoming report has changed +0.3% over the past month to $1.36. Compared to the company's year-ago EPS, this represents a change of +7.1%. Integer currently boasts a Zacks Rank of #4 (Sell).
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AxoGen (AXGN) Surges 8.2%: Is This an Indication of Further Gains?
AxoGen (AXGN - Free Report) shares soared 8.2% in the last trading session to close at $14.71. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.2% gain over the past four weeks.
Axogen scored a strong price increase driven by bullish market sentiment surrounding Fed minutes released on Wednesday. For investors' note Fed made an aggressive 50-bps rate cut on Sept.18 which is expected to boost the investment and research scenario within the MedTech sector.
This regenerative medicine company is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $47 million, up 13.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For AxoGen, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AXGN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
AxoGen is part of the Zacks Medical - Instruments industry. Integer (ITGR - Free Report) , another stock in the same industry, closed the last trading session 0.8% higher at $129.24. ITGR has returned 1.6% in the past month.
Integer's consensus EPS estimate for the upcoming report has changed +0.3% over the past month to $1.36. Compared to the company's year-ago EPS, this represents a change of +7.1%. Integer currently boasts a Zacks Rank of #4 (Sell).