BlackRock Inc. Raises Position in Axonics, Inc. (NASDAQ:AXNX)

BlackRock Inc. lifted its holdings in shares of Axonics, Inc. (NASDAQ:AXNX – Get Rating) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,504,942 shares of the company’s stock after acquiring an additional 97,908 shares during the period. BlackRock Inc. owned 0.07% of Axonics worth $246,888,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in Axonics during the third quarter valued at about $26,000. Wipfli Financial Advisors LLC purchased a new stake in shares of Axonics during the 3rd quarter worth about $28,000. MCF Advisors LLC acquired a new stake in Axonics during the 3rd quarter worth approximately $30,000. Captrust Financial Advisors raised its holdings in Axonics by 64.6% in the first quarter. Captrust Financial Advisors now owns 706 shares of the company’s stock valued at $44,000 after buying an additional 277 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Axonics during the second quarter valued at approximately $50,000. 97.49% of the stock is currently owned by institutional investors and hedge funds.

Axonics Price Performance

NASDAQ:AXNX opened at $52.80 on Tuesday. The firm has a 50-day moving average of $59.21 and a two-hundred day moving average of $64.86. The stock has a market cap of $2.64 billion, a P/E ratio of -40.62 and a beta of 0.41. Axonics, Inc. has a 1-year low of $38.41 and a 1-year high of $79.92.

Axonics (NASDAQ:AXNX – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.24. Axonics had a negative return on equity of 11.82% and a negative net margin of 21.81%. The firm had revenue of $85.90 million during the quarter, compared to the consensus estimate of $84.14 million. During the same quarter in the prior year, the business posted ($0.34) earnings per share. Axonics’s revenue for the quarter was up 61.6% on a year-over-year basis. As a group, equities analysts expect that Axonics, Inc. will post -0.58 earnings per share for the current year.

Insider Activity

In related news, EVP John Woock sold 30,215 shares of Axonics stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $67.34, for a total value of $2,034,678.10. Following the completion of the sale, the executive vice president now owns 45,976 shares in the company, valued at $3,096,023.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP John Woock sold 30,215 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $67.34, for a total value of $2,034,678.10. Following the completion of the sale, the executive vice president now directly owns 45,976 shares in the company, valued at approximately $3,096,023.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Raymond W. Cohen sold 40,736 shares of the firm’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of $65.94, for a total value of $2,686,131.84. Following the transaction, the chief executive officer now owns 108,899 shares in the company, valued at $7,180,800.06. The disclosure for this sale can be found here. In the last three months, insiders sold 187,539 shares of company stock worth $11,942,021. 2.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Axonics from $92.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, January 6th. Truist Financial cut their price objective on Axonics from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Tuesday, December 20th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.75.

About Axonics

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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.