Handelsbanken Fonder AB Buys 3,900 Shares of Axonics, Inc. (NASDAQ:AXNX)

Handelsbanken Fonder AB lifted its stake in Axonics, Inc. (NASDAQ:AXNX) by 52.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,400 shares of the company’s stock after buying an additional 3,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Axonics were worth $709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXNX. FMR LLC lifted its stake in Axonics by 71.8% in the 3rd quarter. FMR LLC now owns 4,558,444 shares of the company’s stock worth $255,820,000 after purchasing an additional 1,904,955 shares in the last quarter. Mackenzie Financial Corp bought a new position in Axonics during the third quarter valued at approximately $68,499,000. Artisan Partners Limited Partnership purchased a new position in Axonics during the 3rd quarter valued at approximately $35,745,000. Kennedy Capital Management LLC boosted its position in shares of Axonics by 74.0% during the 3rd quarter. Kennedy Capital Management LLC now owns 399,970 shares of the company’s stock valued at $22,446,000 after acquiring an additional 170,068 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Axonics by 5.8% in the third quarter. Invesco Ltd. now owns 1,634,984 shares of the company’s stock valued at $91,755,000 after purchasing an additional 90,132 shares in the last quarter. Institutional investors own 99.48% of the company’s stock.

Insiders Place Their Bets

In other news, insider Karen Noblett sold 11,288 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $764,649.12. Following the transaction, the insider now owns 34,428 shares of the company’s stock, valued at approximately $2,332,152.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Axonics news, CFO Kari Leigh Keese sold 3,489 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $236,344.86. Following the completion of the sale, the chief financial officer now owns 43,323 shares in the company, valued at $2,934,700.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Karen Noblett sold 11,288 shares of Axonics stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total value of $764,649.12. Following the completion of the transaction, the insider now owns 34,428 shares in the company, valued at $2,332,152.72. The disclosure for this sale can be found here. Insiders have sold 65,837 shares of company stock worth $4,459,798 in the last ninety days. 1.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on AXNX shares. Truist Financial reiterated a “hold” rating and set a $71.00 price objective (down previously from $73.00) on shares of Axonics in a research report on Friday, January 12th. Wells Fargo & Company reissued an “equal weight” rating and set a $71.00 price objective (up from $68.00) on shares of Axonics in a research note on Wednesday, January 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a research note on Wednesday, January 17th. Wolfe Research downgraded Axonics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 9th. Finally, SVB Leerink restated a “market perform” rating and issued a $71.00 price target on shares of Axonics in a research report on Friday, January 12th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Axonics has an average rating of “Hold” and a consensus price target of $70.73.

Axonics Trading Up 0.4 %

Shares of AXNX opened at $66.93 on Tuesday. The firm has a fifty day moving average price of $67.90 and a 200-day moving average price of $62.84. The firm has a market capitalization of $3.41 billion, a P/E ratio of -514.85 and a beta of 0.56. Axonics, Inc. has a 12-month low of $47.59 and a 12-month high of $69.68.

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

About Axonics

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.