Strs Ohio Sells 1,400 Shares of Axonics, Inc. (NASDAQ:AXNX)

Strs Ohio trimmed its stake in shares of Axonics, Inc. (NASDAQ:AXNX) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the company’s stock after selling 1,400 shares during the quarter. Strs Ohio’s holdings in Axonics were worth $311,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in shares of Axonics in the third quarter valued at approximately $37,000. RiverPark Advisors LLC bought a new stake in Axonics in the 3rd quarter valued at $58,000. C M Bidwell & Associates Ltd. grew its holdings in Axonics by 108.2% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,270 shares of the company’s stock valued at $71,000 after buying an additional 660 shares in the last quarter. Covestor Ltd increased its position in Axonics by 40.8% during the 3rd quarter. Covestor Ltd now owns 3,143 shares of the company’s stock worth $176,000 after buying an additional 911 shares during the period. Finally, Janney Capital Management LLC bought a new position in Axonics during the 3rd quarter worth $214,000. 99.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AXNX shares. Wolfe Research cut shares of Axonics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 9th. CL King restated a “neutral” rating on shares of Axonics in a research report on Friday, January 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a report on Wednesday, January 17th. Piper Sandler reiterated a “neutral” rating and issued a $71.00 price target (down from $75.00) on shares of Axonics in a research note on Friday, January 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $71.00 price target on shares of Axonics in a research report on Thursday, February 29th. Eight investment 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 stock presently has a consensus rating of “Hold” and an average target price of $70.73.

Insider Activity

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

Axonics Stock Performance

Shares of AXNX stock opened at $66.93 on Tuesday. Axonics, Inc. has a fifty-two week low of $47.59 and a fifty-two week high of $69.68. The stock’s fifty day moving average price is $67.90 and its two-hundred day moving average price is $62.84. The company has a market cap of $3.41 billion, a PE ratio of -514.85 and a beta of 0.56.

Axonics (NASDAQ:AXNX) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. The business had revenue of $109.70 million for the quarter, compared to analyst estimates of $107.33 million. Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. Axonics’s revenue was up 27.7% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. On average, equities analysts predict that Axonics, Inc. will post 0.32 EPS for the current fiscal year.

Axonics 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.