Arizona State Retirement System Lowers Stock Holdings in Axonics, Inc. (NASDAQ:AXNX)

Arizona State Retirement System decreased its position in shares of Axonics, Inc. (NASDAQ:AXNX) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 14,106 shares of the company’s stock after selling 239 shares during the period. Arizona State Retirement System’s holdings in Axonics were worth $878,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AXNX. FMR LLC grew its stake in shares of Axonics by 71.8% in the third 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 during the last quarter. Vanguard Group Inc. grew its stake in shares of Axonics by 32.2% in the third quarter. Vanguard Group Inc. now owns 4,073,473 shares of the company’s stock worth $286,935,000 after purchasing an additional 991,055 shares during the last quarter. BlackRock Inc. grew its stake in shares of Axonics by 4.5% in the second quarter. BlackRock Inc. now owns 3,763,627 shares of the company’s stock worth $189,950,000 after purchasing an additional 162,665 shares during the last quarter. Bellevue Group AG grew its stake in shares of Axonics by 9.5% in the first quarter. Bellevue Group AG now owns 2,049,205 shares of the company’s stock worth $128,280,000 after purchasing an additional 177,191 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Axonics by 5.8% in the third quarter. Invesco Ltd. now owns 1,634,984 shares of the company’s stock worth $91,755,000 after purchasing an additional 90,132 shares during the last quarter. Hedge funds and other institutional investors own 99.48% of the company’s stock.

Insiders Place Their Bets

In other Axonics news, CEO Raymond W. Cohen sold 35,161 shares of Axonics stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total value of $2,381,806.14. Following the completion of the sale, the chief executive officer now owns 188,835 shares of the company’s stock, valued at approximately $12,791,682.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Axonics news, CEO Raymond W. Cohen sold 35,161 shares of Axonics stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total value of $2,381,806.14. Following the completion of the sale, the chief executive officer now owns 188,835 shares of the company’s stock, valued at approximately $12,791,682.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John Woock sold 15,899 shares of Axonics stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $1,076,998.26. Following the completion of the sale, the executive vice president now directly owns 77,403 shares of the company’s stock, valued at approximately $5,243,279.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,837 shares of company stock valued at $4,459,798. Company insiders own 1.85% of the company’s stock.

Axonics Stock Up 0.0 %

Shares of NASDAQ AXNX opened at $67.34 on Wednesday. Axonics, Inc. has a twelve month low of $47.59 and a twelve month high of $69.68. The firm has a market cap of $3.43 billion, a P/E ratio of -517.96 and a beta of 0.56. The company has a 50 day moving average of $68.07 and a 200 day moving average of $62.29.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $71.00 price objective (up from $68.00) on shares of Axonics in a research report on Wednesday, January 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $71.00 target price on shares of Axonics in a report on Thursday, February 29th. SVB Leerink reiterated a “market perform” rating and set a $71.00 target price on shares of Axonics in a report on Friday, January 12th. Wolfe Research lowered shares of Axonics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 9th. Finally, Piper Sandler reiterated a “neutral” rating and set a $71.00 target price (down from $75.00) on shares of Axonics in a 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 company. According to data from MarketBeat, Axonics has an average rating of “Hold” and a consensus target price of $70.73.

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.