Arizona State Retirement System Sells 239 Shares of Axonics, Inc. (NASDAQ:AXNX)

Arizona State Retirement System lowered its position in shares of Axonics, Inc. (NASDAQ:AXNX) by 1.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,106 shares of the company’s stock after selling 239 shares during the period. Arizona State Retirement System’s holdings in Axonics were worth $878,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXNX. Almanack Investment Partners LLC. bought a new stake in Axonics during the 3rd quarter worth $28,000. HighMark Wealth Management LLC grew its position in Axonics by 200.0% during the 3rd quarter. HighMark Wealth Management LLC now owns 525 shares of the company’s stock worth $29,000 after acquiring an additional 350 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Axonics in the 3rd quarter valued at about $37,000. Captrust Financial Advisors grew its position in shares of Axonics by 64.6% in the 1st quarter. Captrust Financial Advisors now owns 706 shares of the company’s stock valued at $44,000 after buying an additional 277 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Axonics by 172.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 928 shares of the company’s stock valued at $50,000 after buying an additional 588 shares during the last quarter. Institutional investors own 99.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on AXNX shares. Wells Fargo & Company reiterated an “equal weight” rating and issued a $71.00 price target (up previously from $68.00) on shares of Axonics in a research report on Wednesday, January 10th. CL King reiterated a “neutral” rating on shares of Axonics in a research report on Friday, January 12th. Needham & Company LLC reiterated a “hold” rating on shares of Axonics in a research report on Wednesday, January 17th. SVB Leerink reiterated a “market perform” rating and issued a $71.00 price target on shares of Axonics in a research report on Friday, January 12th. Finally, Truist Financial reissued a “hold” rating and issued a $71.00 price objective (down from $73.00) on shares of Axonics in a research note on Friday, January 12th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Axonics has a consensus rating of “Hold” and a consensus target price of $70.73.

Insider Buying and Selling

In other news, EVP John Woock sold 15,899 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total value of $1,076,998.26. Following the completion of the sale, the executive vice president now directly owns 77,403 shares of the company’s stock, valued at $5,243,279.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP John Woock sold 15,899 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total value of $1,076,998.26. Following the completion of the sale, the executive vice president now directly owns 77,403 shares of the company’s stock, valued at $5,243,279.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Karen Noblett sold 11,288 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total value of $764,649.12. Following the completion of the sale, the insider now directly owns 34,428 shares of the company’s stock, valued at $2,332,152.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,837 shares of company stock valued at $4,459,798. 1.85% of the stock is owned by company insiders.

Axonics Stock Performance

AXNX stock opened at $67.34 on Wednesday. The stock’s 50 day simple moving average is $68.07 and its 200 day simple moving average is $62.29. Axonics, Inc. has a fifty-two week low of $47.59 and a fifty-two week high of $69.68. The company has a market cap of $3.43 billion, a P/E ratio of -517.96 and a beta of 0.56.

Axonics (NASDAQ:AXNX) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. The business had revenue of $109.70 million for the quarter, compared to the consensus estimate of $107.33 million. During the same period in the prior year, the business earned $0.01 EPS. The firm’s revenue for the quarter was up 27.7% on a year-over-year basis. Equities analysts predict that Axonics, Inc. will post 0.32 earnings per share for the current year.

About Axonics

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.