Mackenzie Financial Corp purchased a new position in Axonics, Inc. (NASDAQ:AXNX – Get Rating) during the third quarter, HoldingsChannel reports. The firm purchased 3,053 shares of the company's stock, valued at approximately $215,000.
Other hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors grew its holdings in shares of Axonics by 64.6% in the first quarter. Captrust Financial Advisors now owns 706 shares of the company's stock worth $44,000 after purchasing an additional 277 shares during the last quarter. Strs Ohio bought a new position in shares of Axonics in the second quarter worth about $45,000. Point72 Hong Kong Ltd bought a new position in shares of Axonics in the second quarter worth about $50,000. Nisa Investment Advisors LLC grew its holdings in shares of Axonics by 14.1% in the second quarter. Nisa Investment Advisors LLC now owns 1,620 shares of the company's stock worth $92,000 after purchasing an additional 200 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Axonics by 15.5% in the first quarter. US Bancorp DE now owns 2,508 shares of the company's stock worth $157,000 after purchasing an additional 337 shares during the last quarter. 97.49% of the stock is currently owned by institutional investors.
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Analyst Ratings Changes
AXNX has been the topic of a number of research analyst reports. TheStreet upgraded shares of Axonics from a "d+" rating to a "c" rating in a report on Monday, October 31st. Jefferies Financial Group assumed coverage on shares of Axonics in a report on Wednesday, October 12th. They set a "hold" rating and a $75.00 target price on the stock. Morgan Stanley increased their target price on shares of Axonics from $80.00 to $92.00 and gave the stock an "overweight" rating in a report on Tuesday, October 11th. Truist Financial dropped their target price on shares of Axonics from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Tuesday, December 20th. Finally, Wells Fargo & Company increased their target price on shares of Axonics from $83.00 to $90.00 and gave the stock an "overweight" rating in a report on Tuesday, November 1st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Axonics has an average rating of "Moderate Buy" and an average price target of $79.89.
Axonics Stock Performance
NASDAQ:AXNX opened at $61.53 on Thursday. Axonics, Inc. has a fifty-two week low of $38.41 and a fifty-two week high of $79.92. The stock has a market capitalization of $3.05 billion, a P/E ratio of -37.29 and a beta of 0.39. The company's 50-day simple moving average is $65.15 and its 200-day simple moving average is $66.20.
Axonics (NASDAQ:AXNX – Get Rating) last released its quarterly earnings results on Monday, October 31st. The company reported ($0.34) earnings per share for the quarter, beating analysts' consensus estimates of ($0.47) by $0.13. Axonics had a negative net margin of 31.35% and a negative return on equity of 15.63%. The business had revenue of $70.38 million for the quarter, compared to analysts' expectations of $62.98 million. During the same period last year, the business earned ($0.38) EPS. The company's revenue was up 50.0% compared to the same quarter last year. On average, research analysts forecast that Axonics, Inc. will post -1.58 EPS for the current year.
Insider Activity at Axonics
In related news, Director Esteban Lopez sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $67.42, for a total value of $134,840.00. Following the completion of the transaction, the director now directly owns 3,600 shares of the company's stock, valued at approximately $242,712. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.31% of the stock is currently owned by insiders.
Axonics Company Profile
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Axonics, Inc, a medical technology company, engages in the development and commercialization of sacral neuromodulation (SNM) systems. The company's SNM systems are used to treat patients with overactive bladder, including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence and non-obstructive urinary retention.
Further Reading
- Get a free copy of the StockNews.com research report on Axonics (AXNX)
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