Allspring Global Investments Holdings LLC Has $3.07 Million Stock Position in Axonics, Inc. (NASDAQ:AXNX)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Axonics, Inc. (NASDAQ:AXNX) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,272 shares of the company’s stock after purchasing an additional 3,182 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Axonics were worth $3,066,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AXNX. FMR LLC grew its stake in Axonics by 71.8% in the 3rd quarter. FMR LLC now owns 4,558,444 shares of the company’s stock valued at $255,820,000 after buying an additional 1,904,955 shares during the last quarter. Vanguard Group Inc. grew its stake in Axonics by 32.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,073,473 shares of the company’s stock valued at $286,935,000 after buying an additional 991,055 shares during the last quarter. BlackRock Inc. grew its stake in Axonics by 4.5% in the 2nd quarter. BlackRock Inc. now owns 3,763,627 shares of the company’s stock valued at $189,950,000 after buying an additional 162,665 shares during the last quarter. Bellevue Group AG grew its stake in Axonics by 9.5% in the 1st quarter. Bellevue Group AG now owns 2,049,205 shares of the company’s stock valued at $128,280,000 after buying an additional 177,191 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Axonics by 5.8% in the 3rd quarter. Invesco Ltd. now owns 1,634,984 shares of the company’s stock valued at $91,755,000 after buying an additional 90,132 shares during the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

Axonics Stock Performance

NASDAQ:AXNX opened at $66.95 on Friday. The company has a 50-day moving average of $68.02 and a 200-day moving average of $62.47. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -515.00 and a beta of 0.56. Axonics, Inc. has a 52 week low of $47.59 and a 52 week high of $69.68.

Axonics (NASDAQ:AXNX) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The company had revenue of $109.70 million during the quarter, compared to the consensus estimate of $107.33 million. Axonics had a negative net margin of 1.66% and a negative return on equity of 1.00%. The firm’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period last year, the firm earned $0.01 EPS. Sell-side analysts forecast that Axonics, Inc. will post 0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Axonics

In related news, EVP John Woock sold 15,899 shares of Axonics stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total transaction of $1,076,998.26. Following the completion of the transaction, the executive vice president now directly owns 77,403 shares of the company’s stock, valued at approximately $5,243,279.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP John Woock sold 15,899 shares of Axonics stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total transaction of $1,076,998.26. Following the completion of the transaction, the executive vice president now directly owns 77,403 shares of the company’s stock, valued at approximately $5,243,279.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kari Leigh Keese sold 3,489 shares of Axonics stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total transaction of $236,344.86. Following the transaction, the chief financial officer now directly owns 43,323 shares of the company’s stock, valued at $2,934,700.02. The disclosure for this sale can be found here. Insiders sold 65,837 shares of company stock valued at $4,459,798 in the last ninety days. Insiders own 1.85% of the company’s stock.

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 OAB, UR, and FI.