Headlands Technologies LLC Buys New Position in Axonics, Inc. (NASDAQ:AXNX)

Headlands Technologies LLC purchased a new position in Axonics, Inc. (NASDAQ:AXNX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 852 shares of the company’s stock, valued at approximately $53,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. SG Americas Securities LLC raised its holdings in shares of Axonics by 763.5% in the 3rd quarter. SG Americas Securities LLC now owns 18,134 shares of the company’s stock worth $1,018,000 after purchasing an additional 16,034 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Axonics in the third quarter valued at $37,000. Commonwealth Equity Services LLC acquired a new stake in shares of Axonics during the 3rd quarter valued at $230,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Axonics by 13.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,588 shares of the company’s stock worth $594,000 after acquiring an additional 1,269 shares in the last quarter. Finally, BluePath Capital Management LLC acquired a new position in shares of Axonics in the 3rd quarter worth $217,000. 99.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. CL King reaffirmed a “neutral” rating on shares of Axonics in a report on Friday, January 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $71.00 price target on shares of Axonics in a report on Thursday, February 29th. Needham & Company LLC reissued a “hold” rating on shares of Axonics in a research note on Wednesday, January 17th. Truist Financial restated a “hold” rating and set a $71.00 price objective (down from $73.00) on shares of Axonics in a research report on Friday, January 12th. Finally, Wolfe Research downgraded Axonics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.73.

Axonics Stock Performance

Shares of NASDAQ:AXNX opened at $66.87 on Thursday. The stock’s 50-day moving average is $67.84 and its 200-day moving average is $63.07. The company has a market cap of $3.41 billion, a P/E ratio of -514.35 and a beta of 0.56. Axonics, Inc. has a 52-week low of $47.59 and a 52-week high of $69.68.

Axonics (NASDAQ:AXNX) last announced its earnings results on Tuesday, April 30th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The business had revenue of $91.41 million for the quarter, compared to the consensus estimate of $89.79 million. Axonics had a negative net margin of 1.66% and a negative return on equity of 1.00%. Axonics’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.19) EPS. As a group, equities analysts predict that Axonics, Inc. will post 0.32 EPS for the current year.

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.