Axonics, Inc. (NASDAQ:AXNX) Receives Average Recommendation of “Hold” from Analysts

by · The Cerbat Gem

Shares of Axonics, Inc. (NASDAQ:AXNX – Get Free Report) have been assigned an average rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $69.57.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Axonics in a report on Monday, August 5th.

Get Our Latest Stock Analysis on Axonics

Axonics Price Performance

AXNX stock opened at $70.23 on Monday. Axonics has a 1 year low of $48.30 and a 1 year high of $70.53. The firm has a market capitalization of $3.58 billion, a P/E ratio of -219.47 and a beta of 0.82. The business’s 50-day moving average is $69.44 and its two-hundred day moving average is $68.23.

Axonics (NASDAQ:AXNX – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Axonics had a negative return on equity of 0.27% and a negative net margin of 0.42%. The business had revenue of $114.57 million for the quarter, compared to the consensus estimate of $112.83 million. During the same quarter in the prior year, the business posted ($0.15) EPS. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, analysts expect that Axonics will post 0.24 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kari Leigh Keese sold 2,961 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total transaction of $205,523.01. Following the transaction, the chief financial officer now owns 40,362 shares in the company, valued at $2,801,526.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Axonics in the 2nd quarter valued at approximately $15,080,000. Maven Securities LTD purchased a new position in shares of Axonics in the 2nd quarter valued at approximately $1,008,000. Granite Bay Wealth Management LLC purchased a new position in shares of Axonics in the 2nd quarter valued at approximately $1,698,000. Algert Global LLC grew its stake in shares of Axonics by 26.0% in the 2nd quarter. Algert Global LLC now owns 33,847 shares of the company’s stock valued at $2,276,000 after purchasing an additional 6,978 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Axonics in the 2nd quarter valued at approximately $1,208,000. 99.48% of the stock is currently owned by hedge funds and other institutional investors.

About Axonics

(Get Free Report

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.

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