Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Axonics, Inc. (NASDAQ:AXNX)

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Axonics, Inc. (NASDAQ:AXNX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 224,300 shares of the company’s stock, valued at approximately $15,080,000.

A number of other hedge funds also recently bought and sold shares of AXNX. Alpine Associates Management Inc. boosted its stake in Axonics by 16.2% during the 2nd quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock valued at $141,779,000 after purchasing an additional 294,100 shares during the period. Magnetar Financial LLC lifted its holdings in shares of Axonics by 218.3% during the first quarter. Magnetar Financial LLC now owns 1,146,019 shares of the company’s stock worth $79,041,000 after buying an additional 785,981 shares during the last quarter. KRYGER CAPITAL Ltd bought a new stake in shares of Axonics in the first quarter valued at approximately $65,211,000. Wasatch Advisors LP grew its stake in shares of Axonics by 0.7% in the fourth quarter. Wasatch Advisors LP now owns 704,521 shares of the company’s stock worth $43,842,000 after acquiring an additional 5,046 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Axonics by 6.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 621,570 shares of the company’s stock worth $38,680,000 after acquiring an additional 40,306 shares during the period. 99.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Axonics

In related news, CFO Kari Leigh Keese sold 2,961 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $69.41, for a total transaction of $205,523.01. Following the completion of the sale, the chief financial officer now directly owns 40,362 shares of the company’s stock, valued at $2,801,526.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.85% of the company’s stock.

Axonics Price Performance

AXNX opened at $69.63 on Friday. The company’s 50 day simple moving average is $68.90 and its 200-day simple moving average is $68.04. Axonics, Inc. has a one year low of $48.30 and a one year high of $69.91. The stock has a market capitalization of $3.55 billion, a P/E ratio of -217.59 and a beta of 0.81.

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

Axonics Company 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.