Headlands Technologies LLC Takes $53,000 Position in Axonics, Inc. (NASDAQ:AXNX)

Headlands Technologies LLC acquired a new position in shares of Axonics, Inc. (NASDAQ:AXNX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 852 shares of the company’s stock, valued at approximately $53,000.

A number of other hedge funds have also modified their holdings of AXNX. FMR LLC boosted its position in Axonics by 71.8% during the 3rd quarter. FMR LLC now owns 4,558,444 shares of the company’s stock worth $255,820,000 after acquiring an additional 1,904,955 shares during the last quarter. Invesco Ltd. boosted its holdings in Axonics by 5.8% during the third quarter. Invesco Ltd. now owns 1,634,984 shares of the company’s stock worth $91,755,000 after purchasing an additional 90,132 shares during the last quarter. Mackenzie Financial Corp grew its position in Axonics by 0.9% in the fourth quarter. Mackenzie Financial Corp now owns 1,250,005 shares of the company’s stock valued at $77,788,000 after purchasing an additional 10,872 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in Axonics in the 3rd quarter valued at $35,745,000. Finally, Kennedy Capital Management LLC lifted its position in Axonics by 74.0% during the 3rd quarter. Kennedy Capital Management LLC now owns 399,970 shares of the company’s stock worth $22,446,000 after buying an additional 170,068 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AXNX. Truist Financial restated a “hold” rating and issued a $71.00 price objective (down previously from $73.00) on shares of Axonics in a report on Friday, January 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $71.00 price objective on shares of Axonics in a research note on Thursday, February 29th. Piper Sandler reissued a “neutral” rating and issued a $71.00 price objective (down previously from $75.00) on shares of Axonics in a report on Friday, January 12th. Wolfe Research downgraded shares of Axonics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 9th. Finally, SVB Leerink reaffirmed a “market perform” rating and set a $71.00 price target on shares of Axonics in a research report on Friday, January 12th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.73.

Axonics Price Performance

Shares of AXNX opened at $66.87 on Thursday. The company’s 50-day moving average is $67.84 and its 200-day moving average is $63.07. The firm has a market capitalization of $3.41 billion, a PE ratio of -514.35 and a beta of 0.56. Axonics, Inc. has a fifty-two week low of $47.59 and a fifty-two week high of $69.68.

Axonics (NASDAQ:AXNX) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The company had revenue of $91.41 million during the quarter, compared to the consensus estimate of $89.79 million. Axonics had a negative net margin of 1.66% and a negative return on equity of 1.00%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.19) earnings per share. Analysts predict that Axonics, Inc. will post 0.32 earnings per share for the current fiscal year.

Axonics Company 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.