Axonics, Inc. (NASDAQ:AXNX) Shares Sold by Covestor Ltd

Covestor Ltd trimmed its stake in Axonics, Inc. (NASDAQ:AXNX) by 7.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,839 shares of the company’s stock after selling 244 shares during the quarter. Covestor Ltd’s holdings in Axonics were worth $196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. NBC Securities Inc. grew its position in Axonics by 106.4% during the 4th quarter. NBC Securities Inc. now owns 673 shares of the company’s stock worth $41,000 after purchasing an additional 347 shares in the last quarter. Headlands Technologies LLC acquired a new position in Axonics during the fourth quarter valued at $53,000. Whittier Trust Co. raised its position in Axonics by 59.1% during the first quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock valued at $79,000 after buying an additional 424 shares during the period. Sentry Investment Management LLC purchased a new stake in Axonics in the 4th quarter worth about $125,000. Finally, Inspirion Wealth Advisors LLC acquired a new stake in Axonics during the 1st quarter worth about $207,000. 99.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “hold” rating on shares of Axonics in a report on Monday, May 6th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $69.78.

Axonics Price Performance

Shares of AXNX stock traded down $0.12 on Tuesday, hitting $67.85. The company’s stock had a trading volume of 193,720 shares, compared to its average volume of 872,022. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -212.06 and a beta of 0.83. Axonics, Inc. has a fifty-two week low of $48.30 and a fifty-two week high of $69.68. The firm’s fifty day moving average price is $67.43 and its 200-day moving average price is $67.67.

Axonics (NASDAQ:AXNX) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). The company had revenue of $91.41 million during the quarter, compared to analyst estimates of $89.79 million. Axonics had a negative return on equity of 2.58% and a negative net margin of 4.12%. Axonics’s quarterly revenue was up 29.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) EPS. Analysts predict that Axonics, Inc. will post 0.13 EPS for the current fiscal year.

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.