Axonics, Inc. (NASDAQ:AXNX) Stake Raised by Jennison Associates LLC

Jennison Associates LLC boosted its holdings in Axonics, Inc. (NASDAQ:AXNX) by 56.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 354,331 shares of the company’s stock after acquiring an additional 128,374 shares during the quarter. Jennison Associates LLC owned 0.70% of Axonics worth $22,050,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AXNX. Exchange Traded Concepts LLC bought a new stake in shares of Axonics during the third quarter valued at about $37,000. RiverPark Advisors LLC acquired a new stake in shares of Axonics in the 3rd quarter worth approximately $58,000. C M Bidwell & Associates Ltd. boosted its holdings in shares of Axonics by 108.2% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,270 shares of the company’s stock valued at $71,000 after acquiring an additional 660 shares in the last quarter. Sentry Investment Management LLC acquired a new position in shares of Axonics during the fourth quarter valued at approximately $125,000. Finally, Covestor Ltd raised its holdings in Axonics by 40.8% during the third quarter. Covestor Ltd now owns 3,143 shares of the company’s stock worth $176,000 after purchasing an additional 911 shares in the last quarter. Institutional investors own 99.48% of the company’s stock.

Insider Buying and Selling

In related news, CEO Raymond W. Cohen sold 35,161 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $2,381,806.14. Following the completion of the sale, the chief executive officer now owns 188,835 shares in the company, valued at approximately $12,791,682.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Raymond W. Cohen sold 35,161 shares of Axonics stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $2,381,806.14. Following the sale, the chief executive officer now directly owns 188,835 shares of the company’s stock, valued at $12,791,682.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John Woock sold 15,899 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total value of $1,076,998.26. Following the completion of the transaction, the executive vice president now directly owns 77,403 shares of the company’s stock, valued at approximately $5,243,279.22. The disclosure for this sale can be found here. In the last three months, insiders sold 65,837 shares of company stock valued at $4,459,798. Company insiders own 1.85% of the company’s stock.

Axonics Trading Down 0.2 %

AXNX stock opened at $66.54 on Friday. The firm has a market cap of $3.39 billion, a PE ratio of -511.85 and a beta of 0.56. Axonics, Inc. has a 1 year low of $47.59 and a 1 year high of $69.68. The company has a fifty day simple moving average of $67.95 and a 200 day simple moving average of $62.68.

Axonics (NASDAQ:AXNX) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.07. Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. The company had revenue of $109.70 million during the quarter, compared to the consensus estimate of $107.33 million. During the same quarter in the prior year, the company posted $0.01 EPS. The firm’s revenue was up 27.7% on a year-over-year basis. As a group, analysts forecast that Axonics, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AXNX. Wolfe Research lowered Axonics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 9th. CL King reissued a “neutral” rating on shares of Axonics in a research note on Friday, January 12th. Truist Financial reaffirmed a “hold” rating and set a $71.00 price objective (down from $73.00) on shares of Axonics in a research note on Friday, January 12th. Wells Fargo & Company restated an “equal weight” rating and set a $71.00 price target (up previously from $68.00) on shares of Axonics in a report on Wednesday, January 10th. Finally, SVB Leerink reiterated a “market perform” rating and set a $71.00 price objective on shares of Axonics in a research report on Friday, January 12th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Axonics currently has an average rating of “Hold” and an average target price of $70.73.

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 OAB, UR, and FI.