Principal Financial Group Inc. Lowers Position in Axonics, Inc. (NASDAQ:AXNX)

Principal Financial Group Inc. trimmed its position in shares of Axonics, Inc. (NASDAQ:AXNX) by 32.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 25,648 shares of the company’s stock after selling 12,179 shares during the period. Principal Financial Group Inc.’s holdings in Axonics were worth $1,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC boosted its stake in shares of Axonics by 162.1% during the 2nd quarter. Headlands Technologies LLC now owns 2,928 shares of the company’s stock worth $197,000 after acquiring an additional 1,811 shares in the last quarter. Xponance Inc. raised its holdings in Axonics by 7.5% in the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company’s stock worth $217,000 after purchasing an additional 225 shares during the period. Janney Montgomery Scott LLC acquired a new position in Axonics in the 1st quarter worth about $218,000. Mercer Global Advisors Inc. ADV boosted its position in Axonics by 12.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 6,981 shares of the company’s stock worth $469,000 after purchasing an additional 785 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Axonics by 379.6% in the second quarter. SG Americas Securities LLC now owns 8,321 shares of the company’s stock valued at $559,000 after purchasing an additional 6,586 shares during the period. 99.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “hold” rating on shares of Axonics in a research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $71.00.

Insider Buying and Selling at Axonics

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the firm’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 value of $205,523.01. Following the completion of the transaction, the chief financial officer now owns 40,362 shares of the company’s stock, valued at $2,801,526.42. This trade represents a 6.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.85% of the stock is currently owned by corporate insiders.

Axonics Stock Performance

NASDAQ:AXNX opened at $70.98 on Friday. Axonics, Inc. has a fifty-two week low of $55.09 and a fifty-two week high of $71.05. The company has a 50 day moving average price of $70.04 and a 200 day moving average price of $68.68. The stock has a market capitalization of $3.63 billion, a P/E ratio of -591.45 and a beta of 0.82.

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.