Axonics, Inc. (NASDAQ:AXNX) Shares Acquired by Brinker Capital Investments LLC

Brinker Capital Investments LLC lifted its stake in shares of Axonics, Inc. (NASDAQ:AXNX – Get Rating) by 13.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,910 shares of the company’s stock after purchasing an additional 806 shares during the quarter. Brinker Capital Investments LLC’s holdings in Axonics were worth $487,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bellevue Group AG boosted its position in shares of Axonics by 9.5% in the 1st quarter. Bellevue Group AG now owns 2,049,205 shares of the company’s stock worth $128,280,000 after buying an additional 177,191 shares in the last quarter. Invesco Ltd. boosted its position in shares of Axonics by 8.6% in the 1st quarter. Invesco Ltd. now owns 1,171,343 shares of the company’s stock worth $73,326,000 after buying an additional 92,445 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Axonics by 0.5% in the 2nd quarter. Macquarie Group Ltd. now owns 996,313 shares of the company’s stock worth $56,461,000 after buying an additional 5,308 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Axonics by 21.8% in the 1st quarter. Neuberger Berman Group LLC now owns 714,847 shares of the company’s stock worth $44,750,000 after buying an additional 128,172 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Axonics by 12.2% in the 1st quarter. Northern Trust Corp now owns 652,336 shares of the company’s stock worth $40,836,000 after buying an additional 70,875 shares in the last quarter. 97.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AXNX. Morgan Stanley reduced their target price on shares of Axonics from $92.00 to $76.00 and set an “overweight” rating on the stock in a report on Friday, January 6th. Needham & Company LLC lowered shares of Axonics from a “buy” rating to a “hold” rating in a report on Monday, October 10th. Royal Bank of Canada began coverage on shares of Axonics in a report on Friday, October 21st. They issued an “outperform” rating and a $85.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Axonics from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, November 1st. 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 research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.11.

Insider Buying and Selling

In related news, EVP John Woock sold 30,215 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $67.34, for a total transaction of $2,034,678.10. Following the transaction, the executive vice president now directly owns 45,976 shares of the company’s stock, valued at approximately $3,096,023.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Raymond W. Cohen sold 40,736 shares of the firm’s stock in a transaction dated Friday, January 13th. The stock was sold at an average price of $65.94, for a total transaction of $2,686,131.84. Following the completion of the sale, the chief executive officer now directly owns 108,899 shares in the company, valued at $7,180,800.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Woock sold 30,215 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $67.34, for a total value of $2,034,678.10. Following the completion of the transaction, the executive vice president now owns 45,976 shares in the company, valued at approximately $3,096,023.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,966 shares of company stock valued at $7,247,046. 2.31% of the stock is currently owned by corporate insiders.

Axonics Stock Performance

AXNX opened at $59.73 on Wednesday. The firm has a 50 day moving average price of $63.33 and a 200 day moving average price of $67.14. The company has a market cap of $2.96 billion, a PE ratio of -36.20 and a beta of 0.43. Axonics, Inc. has a 1 year low of $38.41 and a 1 year high of $79.92.

Axonics (NASDAQ:AXNX – Get Rating) last posted its earnings results on Monday, October 31st. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.13. The firm had revenue of $70.38 million during the quarter, compared to the consensus estimate of $62.98 million. Axonics had a negative net margin of 31.35% and a negative return on equity of 15.63%. The company’s revenue was up 50.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.38) EPS. On average, sell-side analysts predict that Axonics, Inc. will post -1.6 earnings per share for the current year.

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.