Vanguard Group Inc. Sells 72,029 Shares of Axonics, Inc. (NASDAQ:AXNX)

Vanguard Group Inc. cut its position in shares of Axonics, Inc. (NASDAQ:AXNX) by 1.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,262,314 shares of the company’s stock after selling 72,029 shares during the quarter. Vanguard Group Inc. owned 10.39% of Axonics worth $295,321,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Metropolitan Life Insurance Co NY grew its holdings in shares of Axonics by 5.9% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,120 shares of the company’s stock worth $195,000 after buying an additional 175 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Axonics by 5.4% during the second quarter. Ameritas Investment Partners Inc. now owns 4,052 shares of the company’s stock worth $205,000 after buying an additional 209 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Axonics by 4.3% during the third quarter. Integrated Wealth Concepts LLC now owns 5,169 shares of the company’s stock worth $290,000 after buying an additional 215 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Axonics by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 19,809 shares of the company’s stock worth $1,000,000 after buying an additional 217 shares in the last quarter. Finally, LPL Financial LLC grew its stake in Axonics by 6.3% in the second quarter. LPL Financial LLC now owns 3,727 shares of the company’s stock valued at $211,000 after purchasing an additional 222 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Raymond W. Cohen sold 35,161 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 $2,381,806.14. Following the completion of the sale, the chief executive officer now directly 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 accessible through the SEC website. In other Axonics news, CEO Raymond W. Cohen sold 35,161 shares of the firm’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 transaction, the chief executive officer now 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 this hyperlink. Also, CFO Kari Leigh Keese sold 3,489 shares of the firm’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 transaction, the chief financial officer now owns 43,323 shares in the company, valued at approximately $2,934,700.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,836 shares of company stock valued at $5,563,729. Insiders own 1.85% of the company’s stock.

Axonics Trading Down 0.1 %

NASDAQ:AXNX opened at $68.90 on Thursday. The stock has a market cap of $3.51 billion, a P/E ratio of -529.96 and a beta of 0.57. The stock has a 50 day simple moving average of $68.03 and a 200 day simple moving average of $61.22. Axonics, Inc. has a 1-year low of $47.59 and a 1-year high of $69.68.

Axonics (NASDAQ:AXNX) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. The business had revenue of $109.70 million during the quarter, compared to analysts’ expectations of $107.33 million. Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. 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 posted $0.01 EPS. As a group, sell-side analysts forecast that Axonics, Inc. will post 0.3 EPS for the current year.

Analyst Upgrades and Downgrades

AXNX has been the subject of a number of analyst reports. Wolfe Research downgraded Axonics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 9th. 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 note on Wednesday, January 10th. Needham & Company LLC restated a “hold” rating on shares of Axonics in a research note on Wednesday, January 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $71.00 price target on shares of Axonics in a research note on Thursday, February 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $71.00 price objective (down from $75.00) on shares of Axonics in a research report on Friday, January 12th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.73.

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.