Axonics (NASDAQ:AXNX) Hits New 1-Year High – What’s Next?

Axonics, Inc. (NASDAQ:AXNX)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $69.96 and last traded at $69.88, with a volume of 375083 shares. The stock had previously closed at $69.66.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $69.57.

Axonics Stock Up 1.0 %

The firm has a 50 day simple moving average of $69.00 and a two-hundred day simple moving average of $68.07. The stock has a market capitalization of $3.59 billion, a P/E ratio of -219.88 and a beta of 0.82.

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

Insider Activity

In related news, CFO Kari Leigh Keese sold 2,961 shares of the company’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 transaction, the chief financial officer now directly owns 40,362 shares in the company, valued at $2,801,526.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Axonics

A number of hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC increased its stake in shares of Axonics by 31.1% in the first quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock valued at $77,000 after buying an additional 265 shares during the period. Whittier Trust Co. boosted its position in Axonics by 59.1% during the 1st quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock worth $79,000 after buying an additional 424 shares during the period. Inspirion Wealth Advisors LLC bought a new stake in Axonics during the 1st quarter worth approximately $207,000. Xponance Inc. increased its position in Axonics by 7.5% in the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company’s stock valued at $217,000 after acquiring an additional 225 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of Axonics during the first quarter valued at $218,000. 99.48% of the stock is owned by institutional investors and hedge funds.

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.