New York State Common Retirement Fund Buys 34,989 Shares of Axonics, Inc. (NASDAQ:AXNX)

New York State Common Retirement Fund boosted its stake in Axonics, Inc. (NASDAQ:AXNX) by 28.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,657 shares of the company’s stock after purchasing an additional 34,989 shares during the quarter. New York State Common Retirement Fund owned approximately 0.31% of Axonics worth $9,873,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new stake in shares of Axonics in the third quarter worth about $37,000. RiverPark Advisors LLC purchased a new stake in Axonics in the 3rd quarter worth approximately $58,000. C M Bidwell & Associates Ltd. boosted 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 purchasing an additional 660 shares during the period. Sentry Investment Management LLC purchased a new position in shares of Axonics during the 4th quarter valued at $125,000. Finally, Covestor Ltd increased its holdings in shares of Axonics by 40.8% in the third quarter. Covestor Ltd now owns 3,143 shares of the company’s stock worth $176,000 after purchasing an additional 911 shares during the period. Hedge funds and other institutional investors own 99.48% of the company’s stock.

Wall Street Analysts Forecast Growth

AXNX has been the subject of several recent analyst reports. Wolfe Research cut Axonics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 9th. CL King reaffirmed a “neutral” rating on shares of Axonics in a research note on Friday, January 12th. Piper Sandler reissued a “neutral” rating and issued a $71.00 price target (down previously from $75.00) on shares of Axonics in a research note on Friday, January 12th. 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 report on Wednesday, January 10th. Finally, Truist Financial reissued a “hold” rating and issued a $71.00 target price (down previously from $73.00) on shares of Axonics in a research note 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.73.

Axonics Price Performance

Shares of AXNX stock opened at $66.87 on Thursday. The business has a 50-day moving average of $67.84 and a 200 day moving average of $63.07. The stock has a market capitalization of $3.41 billion, a PE ratio of -514.35 and a beta of 0.56. Axonics, Inc. has a 1-year low of $47.59 and a 1-year high of $69.68.

Axonics (NASDAQ:AXNX) last issued its earnings results on Tuesday, April 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.32). Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. The firm had revenue of $91.41 million during the quarter, compared to the consensus estimate of $89.79 million. During the same quarter in the prior year, the business posted ($0.19) EPS. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. Analysts anticipate that Axonics, Inc. will post 0.32 EPS for the current year.

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.