Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Axonics, Inc. (NASDAQ:AXNX)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Axonics, Inc. (NASDAQ:AXNX) by 5.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 22,963 shares of the company’s stock after purchasing an additional 1,117 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Axonics were worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. RiverPark Advisors LLC boosted its stake in shares of Axonics by 14.4% during the 4th quarter. RiverPark Advisors LLC now owns 1,185 shares of the company’s stock worth $74,000 after acquiring an additional 149 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its stake in shares of Axonics by 5.9% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,120 shares of the company’s stock worth $195,000 after acquiring an additional 175 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Axonics by 4.3% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 5,169 shares of the company’s stock worth $290,000 after acquiring an additional 215 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Axonics by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,809 shares of the company’s stock worth $1,000,000 after acquiring an additional 217 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Axonics by 6.3% during the 2nd quarter. LPL Financial LLC now owns 3,727 shares of the company’s stock worth $211,000 after acquiring an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 99.48% of the company’s stock.

Axonics Stock Performance

Shares of AXNX opened at $66.95 on Monday. The stock has a fifty day moving average of $68.02 and a two-hundred day moving average of $62.52. The company has a market capitalization of $3.41 billion, a PE ratio of -514.96 and a beta of 0.56. Axonics, Inc. has a fifty-two week low of $47.59 and a fifty-two 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 business had revenue of $109.70 million during the quarter, compared to the consensus estimate of $107.33 million. Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. The business’s revenue for the quarter was up 27.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS. As a group, equities research analysts forecast that Axonics, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. CL King reaffirmed a “neutral” rating on shares of Axonics in a research note on Friday, January 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $71.00 target price (down previously from $75.00) on shares of Axonics in a research note on Friday, January 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $71.00 target price on shares of Axonics in a research note on Thursday, February 29th. SVB Leerink reaffirmed a “market perform” rating and issued a $71.00 target price on shares of Axonics in a research note on Friday, January 12th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $71.00 target price (up previously from $68.00) on shares of Axonics in a research note on Wednesday, January 10th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.73.

Insider Transactions at Axonics

In other news, CEO Raymond W. Cohen sold 35,161 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $2,381,806.14. Following the completion of the sale, the chief executive officer now directly owns 188,835 shares in the company, valued at approximately $12,791,682.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Raymond W. Cohen sold 35,161 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $2,381,806.14. Following the completion of the sale, the chief executive officer now directly owns 188,835 shares in the company, valued at approximately $12,791,682.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kari Leigh Keese sold 3,489 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total value of $236,344.86. Following the sale, the chief financial officer now 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 a total of 65,837 shares of company stock worth $4,459,798 in the last ninety days. Insiders own 1.85% of the company’s stock.

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.