Russell Investments Group Ltd. Has $3.11 Million Position in Axonics, Inc. (NASDAQ:AXNX)

Russell Investments Group Ltd. boosted its holdings in Axonics, Inc. (NASDAQ:AXNXGet Rating) by 287.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,621 shares of the company’s stock after buying an additional 36,816 shares during the period. Russell Investments Group Ltd. owned approximately 0.11% of Axonics worth $3,105,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in Axonics by 401.1% in the 1st quarter. Signaturefd LLC now owns 451 shares of the company’s stock worth $28,000 after buying an additional 361 shares during the period. Mount Yale Investment Advisors LLC bought a new position in Axonics in the 1st quarter worth approximately $209,000. Commonwealth Equity Services LLC bought a new position in Axonics in the 1st quarter worth approximately $215,000. Brinker Capital Investments LLC bought a new position in Axonics in the 4th quarter worth approximately $251,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Axonics by 30.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,008 shares of the company’s stock worth $280,000 after buying an additional 1,172 shares during the period. 99.69% of the stock is owned by institutional investors.

Axonics Price Performance

Shares of AXNX stock opened at $72.38 on Friday. The stock’s fifty day simple moving average is $60.73 and its 200 day simple moving average is $56.78. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of -42.83 and a beta of 0.46. Axonics, Inc. has a one year low of $38.41 and a one year high of $79.81.

Axonics (NASDAQ:AXNXGet Rating) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.10. The company had revenue of $68.98 million for the quarter, compared to analyst estimates of $60.05 million. Axonics had a negative return on equity of 16.34% and a negative net margin of 35.19%. The business’s revenue was up 50.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.59) earnings per share. On average, research analysts anticipate that Axonics, Inc. will post -1.86 earnings per share for the current year.

Insiders Place Their Bets

In other Axonics news, Director Jane E. Kiernan sold 5,250 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $60.00, for a total value of $315,000.00. Following the transaction, the director now owns 14,761 shares of the company’s stock, valued at $885,660. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Jane E. Kiernan sold 5,250 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $60.00, for a total transaction of $315,000.00. Following the transaction, the director now owns 14,761 shares of the company’s stock, valued at $885,660. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Raymond W. Cohen sold 44,000 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $70.44, for a total value of $3,099,360.00. Following the transaction, the chief executive officer now directly owns 149,635 shares in the company, valued at approximately $10,540,289.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,100 shares of company stock valued at $6,814,616. 2.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AXNX. Morgan Stanley lifted their price target on Axonics from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 2nd. Truist Financial boosted their price objective on Axonics from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Needham & Company LLC boosted their price objective on Axonics from $60.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Piper Sandler boosted their price objective on Axonics from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Tuesday, August 2nd. Finally, Wells Fargo & Company boosted their price objective on Axonics from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, August 2nd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $77.86.

About Axonics

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Axonics, Inc, a medical technology company, engages in the development and commercialization of sacral neuromodulation (SNM) systems. The company’s SNM systems are used to treat patients with overactive bladder, including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence and non-obstructive urinary retention.

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