Rhumbline Advisers Buys 9,446 Shares of Axonics, Inc. (NASDAQ:AXNX)

Rhumbline Advisers grew its position in Axonics, Inc. (NASDAQ:AXNX) by 13.7% in the second quarter, Holdings Channel reports. The fund owned 78,401 shares of the company’s stock after acquiring an additional 9,446 shares during the quarter. Rhumbline Advisers’ holdings in Axonics were worth $5,271,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC boosted its stake in shares of Axonics by 31.1% during the first quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock valued at $77,000 after purchasing an additional 265 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Axonics by 59.1% during the first quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock worth $79,000 after purchasing an additional 424 shares during the period. Inspirion Wealth Advisors LLC bought a new stake in shares of Axonics in the first quarter worth $207,000. Janney Montgomery Scott LLC acquired a new stake in Axonics in the first quarter valued at $218,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Axonics by 33.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 3,580 shares of the company’s stock valued at $223,000 after buying an additional 890 shares during the period. Institutional investors and hedge funds own 99.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a research note on Monday, August 5th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $69.57.

Axonics Stock Performance

AXNX stock opened at $68.83 on Monday. The business has a 50-day simple moving average of $68.54 and a two-hundred day simple moving average of $67.90. Axonics, Inc. has a 52-week low of $48.30 and a 52-week high of $69.68. The company has a market capitalization of $3.52 billion, a P/E ratio of -215.09 and a beta of 0.81.

Axonics (NASDAQ:AXNX) last posted its earnings results on Thursday, August 1st. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The firm had revenue of $114.57 million for the quarter, compared to analysts’ expectations of $112.83 million. Axonics had a negative net margin of 0.42% and a negative return on equity of 0.27%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) EPS. As a group, sell-side analysts forecast that Axonics, Inc. will post 0.24 earnings per share 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.