Axonics, Inc. (NASDAQ:AXNX) Insider Alfred J. Ford, Jr. Sells 36,015 Shares

Axonics, Inc. (NASDAQ:AXNX – Get Rating) insider Alfred J. Ford, Jr. sold 36,015 shares of the stock in a transaction that occurred on Friday, January 13th. The shares were sold at an average price of $66.40, for a total value of $2,391,396.00. Following the transaction, the insider now directly owns 36,773 shares of the company’s stock, valued at approximately $2,441,727.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Axonics Stock Performance

Shares of Axonics stock opened at $62.02 on Friday. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -37.59 and a beta of 0.43. Axonics, Inc. has a fifty-two week low of $38.41 and a fifty-two week high of $79.92. The stock has a 50 day moving average of $63.46 and a 200 day moving average of $67.07.

Axonics (NASDAQ:AXNX – Get Rating) last issued its quarterly earnings data on Monday, October 31st. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.13. The company had revenue of $70.38 million during the quarter, compared to analyst estimates of $62.98 million. Axonics had a negative return on equity of 15.63% and a negative net margin of 31.35%. The firm’s revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.38) earnings per share. Analysts forecast that Axonics, Inc. will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new position in Axonics in the third quarter worth approximately $26,000. Almanack Investment Partners LLC. purchased a new position in shares of Axonics during the third quarter worth $28,000. Wipfli Financial Advisors LLC purchased a new position in shares of Axonics during the third quarter worth $28,000. MCF Advisors LLC purchased a new position in shares of Axonics during the third quarter worth $30,000. Finally, Captrust Financial Advisors boosted its position in shares of Axonics by 64.6% during the first quarter. Captrust Financial Advisors now owns 706 shares of the company’s stock worth $44,000 after buying an additional 277 shares during the period. 97.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Truist Financial reduced their target price on Axonics from $90.00 to $82.00 and set a “buy” rating for the company in a report on Tuesday, December 20th. Jefferies Financial Group initiated coverage on Axonics in a report on Wednesday, October 12th. They issued a “hold” rating and a $75.00 price target for the company. Needham & Company LLC cut Axonics from a “buy” rating to a “hold” rating in a report on Monday, October 10th. TheStreet raised Axonics from a “d+” rating to a “c” rating in a report on Monday, October 31st. Finally, Royal Bank of Canada initiated coverage on Axonics in a report on Friday, October 21st. They issued an “outperform” rating and a $85.00 price target for the company. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.11.

Axonics Company Profile

(Get Rating)

Axonics, Inc is a medical device company, which engages in developing and commercializing of novel implantable sacral neuromodulation (SNM) devices to treat patients with bladder and bowel dysfunction. Its product Bulkamid, which is a urethral bulking agent used to treat stress urinary incontinence in women.