Gabelli Funds LLC Purchases 96,050 Shares of Axonics, Inc. (NASDAQ:AXNX)

Gabelli Funds LLC grew its position in shares of Axonics, Inc. (NASDAQ:AXNX) by 54.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 273,975 shares of the company’s stock after buying an additional 96,050 shares during the quarter. Gabelli Funds LLC’s holdings in Axonics were worth $18,419,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Hsbc Holdings PLC grew its holdings in shares of Axonics by 26.5% during the second quarter. Hsbc Holdings PLC now owns 322,853 shares of the company’s stock worth $21,715,000 after purchasing an additional 67,603 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Axonics by 12.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,981 shares of the company’s stock worth $469,000 after acquiring an additional 785 shares during the last quarter. Sofinnova Investments Inc. increased its position in Axonics by 0.7% in the 2nd quarter. Sofinnova Investments Inc. now owns 150,490 shares of the company’s stock valued at $10,117,000 after acquiring an additional 1,105 shares in the last quarter. Alpine Associates Management Inc. raised its stake in shares of Axonics by 16.2% in the second quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock worth $141,779,000 after acquiring an additional 294,100 shares during the last quarter. Finally, Headlands Technologies LLC lifted its position in shares of Axonics by 162.1% during the second quarter. Headlands Technologies LLC now owns 2,928 shares of the company’s stock worth $197,000 after purchasing an additional 1,811 shares in the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

Axonics Price Performance

Shares of NASDAQ:AXNX opened at $69.15 on Monday. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -216.09 and a beta of 0.81. The company has a 50 day moving average of $68.67 and a 200-day moving average of $67.95. Axonics, Inc. has a one year low of $48.30 and a one year high of $69.68.

Axonics (NASDAQ:AXNX) last issued its earnings results on Thursday, August 1st. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. Axonics had a negative net margin of 0.42% and a negative return on equity of 0.27%. The company had revenue of $114.57 million during the quarter, compared to analysts’ expectations of $112.83 million. During the same quarter in the previous year, the company posted ($0.15) EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. Equities research analysts anticipate that Axonics, Inc. will post 0.24 earnings per share for the current year.

Analyst Ratings Changes

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

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.