Swiss National Bank increased its stake in shares of Axonics, Inc. (NASDAQ:AXNX) by 32.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 66,000 shares of the company’s stock after purchasing an additional 16,000 shares during the quarter. Swiss National Bank owned 0.16% of Axonics worth $4,185,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. Eaton Vance Management purchased a new stake in shares of Axonics during the 1st quarter worth $30,000. Lazard Asset Management LLC acquired a new position in shares of Axonics in the first quarter valued at about $46,000. Whittier Trust Co. acquired a new position in shares of Axonics in the second quarter valued at about $46,000. US Bancorp DE increased its holdings in shares of Axonics by 35.9% in the first quarter. US Bancorp DE now owns 999 shares of the company’s stock valued at $60,000 after purchasing an additional 264 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Axonics in the first quarter valued at about $80,000. 96.72% of the stock is currently owned by institutional investors.
Several research firms recently commented on AXNX. SVB Leerink reaffirmed an “outperform” rating on shares of Axonics in a report on Tuesday, July 20th. Needham & Company LLC raised their target price on Axonics from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, June 28th. Barclays raised their target price on Axonics from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 6th. Piper Sandler raised their target price on Axonics from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, August 6th. Finally, Morgan Stanley raised their target price on Axonics from $62.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Axonics has a consensus rating of “Buy” and a consensus target price of $69.50.
Axonics (NASDAQ:AXNX) last posted its earnings results on Wednesday, August 4th. The company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.10). Axonics had a negative net margin of 45.36% and a negative return on equity of 18.01%. The firm had revenue of $45.87 million during the quarter, compared to analysts’ expectations of $39.24 million. Equities analysts anticipate that Axonics, Inc. will post -1.86 earnings per share for the current year.
In other Axonics news, CMO John Woock sold 8,443 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $74.73, for a total transaction of $630,945.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Raymond W. Cohen sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 9th. The stock was sold at an average price of $77.11, for a total value of $3,855,500.00. The disclosure for this sale can be found here. Insiders sold a total of 83,443 shares of company stock valued at $6,161,445 over the last three months. Company insiders own 2.59% of the company’s stock.
Axonics Company Profile
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.
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