Victory Capital Management Inc. Sells 200,923 Shares of Axonics, Inc. (NASDAQ:AXNX)

Victory Capital Management Inc. reduced its position in shares of Axonics, Inc. (NASDAQ:AXNX – Get Rating) by 35.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 359,249 shares of the company’s stock after selling 200,923 shares during the quarter. Victory Capital Management Inc.’s holdings in Axonics were worth $22,458,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Altshuler Shaham Ltd bought a new stake in shares of Axonics during the 3rd quarter valued at about $26,000. Almanack Investment Partners LLC. bought a new stake in shares of Axonics during the 3rd quarter valued at about $28,000. MCF Advisors LLC bought a new position in shares of Axonics during the 3rd quarter valued at approximately $30,000. Captrust Financial Advisors grew its stake in shares of Axonics by 64.6% during the 1st quarter. Captrust Financial Advisors now owns 706 shares of the company’s stock valued at $44,000 after acquiring an additional 277 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of Axonics during the 2nd quarter valued at approximately $50,000. 97.49% of the stock is currently owned by institutional investors.

Insider Transactions at Axonics

In other news, CFO Danny L. Dearen sold 2,001 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $60.01, for a total transaction of $120,080.01. Following the sale, the chief financial officer now directly owns 23,993 shares of the company’s stock, valued at approximately $1,439,819.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Danny L. Dearen sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $55.27, for a total transaction of $829,050.00. Following the sale, the chief financial officer now directly owns 23,993 shares of the company’s stock, valued at approximately $1,326,093.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Danny L. Dearen sold 2,001 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $60.01, for a total value of $120,080.01. Following the sale, the chief financial officer now directly owns 23,993 shares in the company, valued at $1,439,819.93. The disclosure for this sale can be found here. Insiders have sold 36,930 shares of company stock valued at $2,070,535 in the last ninety days. Corporate insiders own 2.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AXNX shares. Truist Financial cut their price objective on Axonics from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, April 17th. Needham & Company LLC boosted their price objective on Axonics from $71.00 to $73.00 in a research note on Tuesday, May 2nd. Finally, Mizuho started coverage on Axonics in a research note on Thursday, April 13th. They set a “buy” rating and a $75.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.88.

Axonics Price Performance

AXNX stock opened at $50.33 on Monday. Axonics, Inc. has a 1-year low of $46.57 and a 1-year high of $79.92. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -50.84 and a beta of 0.39. The business has a 50 day simple moving average of $55.76 and a two-hundred day simple moving average of $59.45.

Axonics (NASDAQ:AXNX – Get Rating) last posted its quarterly earnings results on Monday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.10. Axonics had a negative return on equity of 8.67% and a negative net margin of 15.64%. The business had revenue of $70.65 million during the quarter, compared to the consensus estimate of $65.03 million. During the same period in the prior year, the company posted ($0.50) EPS. The firm’s revenue for the quarter was up 45.9% compared to the same quarter last year. Sell-side analysts anticipate that Axonics, Inc. will post -0.42 EPS for the current fiscal year.

Axonics Company Profile

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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.