Guggenheim Capital LLC lifted its position in Axonics, Inc. (NASDAQ:AXNX – Free Report) by 16.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,981 shares of the company’s stock after buying an additional 6,913 shares during the period. Guggenheim Capital LLC owned approximately 0.10% of Axonics worth $2,727,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Axonics by 32.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,073,473 shares of the company’s stock worth $286,935,000 after buying an additional 991,055 shares during the last quarter. Bellevue Group AG grew its position in Axonics by 9.5% during the 1st quarter. Bellevue Group AG now owns 2,049,205 shares of the company’s stock worth $128,280,000 after purchasing an additional 177,191 shares during the last quarter. Norges Bank purchased a new stake in Axonics during the 4th quarter worth approximately $76,440,000. Invesco Ltd. grew its position in Axonics by 8.6% during the 1st quarter. Invesco Ltd. now owns 1,171,343 shares of the company’s stock worth $73,326,000 after purchasing an additional 92,445 shares during the last quarter. Finally, State Street Corp grew its position in Axonics by 1.1% during the 3rd quarter. State Street Corp now owns 1,014,675 shares of the company’s stock worth $71,474,000 after purchasing an additional 11,086 shares during the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.
Analyst Ratings Changes
Several research firms have weighed in on AXNX. Royal Bank of Canada dropped their target price on shares of Axonics from $85.00 to $75.00 in a research report on Wednesday, July 12th. KeyCorp boosted their target price on shares of Axonics from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Mizuho reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Axonics in a report on Friday, July 14th. Needham & Company LLC upped their price objective on shares of Axonics from $73.00 to $76.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, CL King began coverage on shares of Axonics in a report on Tuesday, May 23rd. They issued a “buy” rating and a $75.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Axonics presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.36.
Insiders Place Their Bets
In other news, insider Alfred J. Ford, Jr. sold 14,769 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $62.34, for a total transaction of $920,699.46. Following the completion of the sale, the insider now owns 34,565 shares of the company’s stock, valued at $2,154,782.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Axonics news, insider Alfred J. Ford, Jr. sold 14,769 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $62.34, for a total transaction of $920,699.46. Following the completion of the transaction, the insider now owns 34,565 shares of the company’s stock, valued at $2,154,782.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alfred J. Ford, Jr. sold 1,500 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $62.01, for a total transaction of $93,015.00. Following the transaction, the insider now directly owns 49,334 shares of the company’s stock, valued at approximately $3,059,201.34. The disclosure for this sale can be found here. 1.85% of the stock is currently owned by company insiders.
Axonics Price Performance
AXNX opened at $56.57 on Wednesday. The firm has a fifty day moving average price of $54.48 and a 200 day moving average price of $54.68. Axonics, Inc. has a 1 year low of $47.59 and a 1 year high of $79.92. The stock has a market cap of $2.85 billion, a P/E ratio of -84.33 and a beta of 0.41.
Axonics (NASDAQ:AXNX – Get Free Report) last posted its earnings results on Thursday, July 27th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Axonics had a negative net margin of 10.06% and a negative return on equity of 5.60%. The firm had revenue of $92.90 million during the quarter, compared to analyst estimates of $86.45 million. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. The business’s revenue for the quarter was up 34.6% on a year-over-year basis. Equities analysts expect that Axonics, Inc. will post -0.35 EPS for the current year.
Axonics Profile
Axonics, Inc, a medical technology company, engages in the development and commercialization of novel products for the treatment of bladder and bowel dysfunction. Its sacral neuromodulation (SNM) systems are used to treat patients with overactive bladder (OAB), including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence (FI) and non-obstructive urinary retention (UR); and rechargeable (R20) and recharge-free (F15) implantable SNM systems that delivers mild electrical pulses to the targeted sacral nerve to restore normal communication to and from the brain to reduce the symptoms of bladder and bowel dysfunction.
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