Barclays PLC Decreases Holdings in Axonics, Inc. (NASDAQ:AXNX)

Barclays PLC cut its holdings in shares of Axonics, Inc. (NASDAQ:AXNX) by 24.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,799 shares of the company’s stock after selling 6,091 shares during the quarter. Barclays PLC’s holdings in Axonics were worth $949,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Jackson Creek Investment Advisors LLC grew its holdings in shares of Axonics by 7.0% in the second quarter. Jackson Creek Investment Advisors LLC now owns 14,076 shares of the company’s stock worth $710,000 after purchasing an additional 918 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Axonics by 21.4% in the second quarter. State of New Jersey Common Pension Fund D now owns 49,511 shares of the company’s stock worth $2,499,000 after purchasing an additional 8,726 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Axonics by 21.0% in the second quarter. Handelsbanken Fonder AB now owns 7,500 shares of the company’s stock worth $379,000 after purchasing an additional 1,300 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Axonics by 22.2% in the second quarter. Arizona State Retirement System now owns 14,034 shares of the company’s stock worth $708,000 after purchasing an additional 2,553 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Axonics by 4.5% in the second quarter. LPL Financial LLC now owns 13,614 shares of the company’s stock worth $687,000 after purchasing an additional 589 shares during the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Axonics

In other news, CFO Danny L. Dearen sold 7,675 shares of Axonics stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $56.87, for a total value of $436,477.25. Following the completion of the transaction, the chief financial officer now owns 23,777 shares of the company’s stock, valued at approximately $1,352,197.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.85% of the stock is owned by insiders.

Axonics Trading Up 2.4 %

Shares of AXNX stock opened at $57.65 on Tuesday. The company’s fifty day moving average price is $54.89 and its 200-day moving average price is $54.15. The stock has a market cap of $2.92 billion, a PE ratio of -230.60 and a beta of 0.46. Axonics, Inc. has a 12 month low of $47.59 and a 12 month high of $71.99.

Axonics (NASDAQ:AXNX) last posted its quarterly earnings results on Monday, October 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.13. The firm had revenue of $93.10 million during the quarter, compared to analyst estimates of $89.60 million. Axonics had a negative return on equity of 2.04% and a negative net margin of 3.50%. Axonics’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.34) EPS. On average, sell-side analysts forecast that Axonics, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AXNX shares. Needham & Company LLC cut their target price on shares of Axonics from $76.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. Morgan Stanley cut their price target on shares of Axonics from $76.00 to $69.00 and set an “overweight” rating on the stock in a report on Tuesday, October 31st. KeyCorp lifted their price target on shares of Axonics from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Robert W. Baird lifted their price target on shares of Axonics from $69.00 to $70.00 in a report on Friday, July 28th. Finally, SVB Leerink started coverage on shares of Axonics in a report on Monday, October 16th. They issued an “outperform” rating and a $70.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, Axonics presently has an average rating of “Buy” and an average target price of $71.60.

Axonics Company Profile

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 bladder and bowel dysfunction.