First Trust Advisors LP Acquires 20,472 Shares of Axonics, Inc. (NASDAQ:AXNX)

First Trust Advisors LP grew its holdings in Axonics, Inc. (NASDAQ:AXNX – Get Rating) by 18.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 128,972 shares of the company’s stock after acquiring an additional 20,472 shares during the quarter. First Trust Advisors LP owned 0.26% of Axonics worth $9,085,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AXNX. Metropolitan Life Insurance Co NY boosted its holdings in Axonics by 5.9% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 2,945 shares of the company’s stock valued at $207,000 after purchasing an additional 163 shares during the period. Arizona State Retirement System grew its position in Axonics by 2.0% during the third quarter. Arizona State Retirement System now owns 10,233 shares of the company’s stock worth $721,000 after buying an additional 196 shares in the last quarter. LPL Financial LLC raised its holdings in Axonics by 6.3% in the 2nd quarter. LPL Financial LLC now owns 3,727 shares of the company’s stock valued at $211,000 after acquiring an additional 222 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Axonics by 34.1% in the 2nd quarter. Captrust Financial Advisors now owns 947 shares of the company’s stock worth $54,000 after acquiring an additional 241 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Axonics by 6.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,207 shares of the company’s stock worth $326,000 after purchasing an additional 326 shares in the last quarter. 97.49% of the stock is owned by institutional investors.

Axonics Trading Down 3.6 %

Shares of Axonics stock opened at $52.60 on Monday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -40.46 and a beta of 0.41. The firm’s 50-day moving average price is $59.40 and its two-hundred day moving average price is $65.01. Axonics, Inc. has a 1-year low of $38.41 and a 1-year high of $79.92.

Axonics (NASDAQ:AXNX – Get Rating) last released its quarterly earnings results on Wednesday, March 1st. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.24. The business had revenue of $85.90 million for the quarter, compared to analyst estimates of $84.14 million. Axonics had a negative return on equity of 11.82% and a negative net margin of 21.81%. Axonics’s revenue for the quarter was up 61.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.34) EPS. As a group, equities research analysts predict that Axonics, Inc. will post -0.58 EPS for the current year.

Insider Activity at Axonics

In other Axonics news, COO Rinda Sama sold 19,929 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $56.27, for a total value of $1,121,404.83. Following the completion of the sale, the chief operating officer now owns 55,854 shares in the company, valued at approximately $3,142,904.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Raymond W. Cohen sold 40,736 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 108,899 shares of the company’s stock, valued at $7,180,800.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Rinda Sama sold 19,929 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $56.27, for a total value of $1,121,404.83. Following the completion of the transaction, the chief operating officer now owns 55,854 shares in the company, valued at approximately $3,142,904.58. The disclosure for this sale can be found here. Insiders sold 189,539 shares of company stock valued at $12,076,861 over the last ninety days. 2.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial cut their target price on Axonics from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Tuesday, December 20th. Morgan Stanley reduced their price objective on shares of Axonics from $92.00 to $76.00 and set an “overweight” rating for the company in a report on Friday, January 6th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.75.

Axonics 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.