FY2022 Earnings Estimate for Axonics, Inc. Issued By Jefferies Financial Group (NASDAQ:AXNX)

Axonics, Inc. (NASDAQ:AXNXGet Rating) – Research analysts at Jefferies Financial Group lowered their FY2022 EPS estimates for Axonics in a research report issued to clients and investors on Wednesday, January 11th. Jefferies Financial Group analyst M. Sarcone now forecasts that the company will post earnings per share of ($1.75) for the year, down from their previous estimate of ($1.69). Jefferies Financial Group has a “Hold” rating and a $75.00 price objective on the stock. The consensus estimate for Axonics’ current full-year earnings is ($1.59) per share. Jefferies Financial Group also issued estimates for Axonics’ Q4 2022 earnings at ($0.43) EPS, FY2023 earnings at ($1.49) EPS and FY2024 earnings at ($0.97) EPS.

AXNX has been the subject of several other research reports. Piper Sandler lifted their price objective on shares of Axonics from $82.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 5th. TheStreet raised shares of Axonics from a “d+” rating to a “c” rating in a report on Monday, October 31st. Royal Bank of Canada began coverage on shares of Axonics in a report on Friday, October 21st. They set an “outperform” rating and a $85.00 price target on the stock. Needham & Company LLC lowered shares of Axonics from a “buy” rating to a “hold” rating in a report on Monday, October 10th. Finally, Truist Financial reduced 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. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Axonics currently has an average rating of “Moderate Buy” and an average target price of $78.11.

Axonics Stock Performance

NASDAQ AXNX opened at $64.88 on Monday. The firm has a 50-day moving average of $63.22 and a 200-day moving average of $66.99. The stock has a market cap of $3.21 billion, a PE ratio of -39.32 and a beta of 0.43. Axonics has a 52-week low of $38.41 and a 52-week high of $79.92.

Axonics (NASDAQ:AXNXGet Rating) last released its 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 during the quarter, compared to the consensus estimate of $62.98 million. During the same quarter last year, the firm earned ($0.38) earnings per share. The firm’s revenue for the quarter was up 50.0% compared to the same quarter last year.

Institutional Investors Weigh In On Axonics

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Axonics by 32.2% during the third quarter. Vanguard Group Inc. now owns 4,073,473 shares of the company’s stock valued at $286,935,000 after purchasing an additional 991,055 shares during the last quarter. BlackRock Inc. raised its stake in Axonics by 2.9% in the third quarter. BlackRock Inc. now owns 3,504,942 shares of the company’s stock valued at $246,888,000 after purchasing an additional 97,908 shares in the last quarter. Bellevue Group AG raised its stake in Axonics by 9.5% in the first quarter. Bellevue Group AG now owns 2,049,205 shares of the company’s stock valued at $128,280,000 after purchasing an additional 177,191 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Axonics by 48.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,871,874 shares of the company’s stock valued at $131,855,000 after purchasing an additional 611,091 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Axonics by 8.6% in the first quarter. Invesco Ltd. now owns 1,171,343 shares of the company’s stock valued at $73,326,000 after purchasing an additional 92,445 shares in the last quarter. 97.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Axonics

In related news, Director Esteban Lopez sold 2,000 shares of the stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $67.42, for a total transaction of $134,840.00. Following the completion of the transaction, the director now owns 3,600 shares in the company, valued at $242,712. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.31% of the company’s stock.

Axonics Company Profile

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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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