Axonics, Inc. (NASDAQ:AXNX) Given Consensus Recommendation of “Hold” by Analysts

Shares of Axonics, Inc. (NASDAQ:AXNX) have received a consensus rating of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $69.78.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Axonics in a research note on Monday, May 6th.

Axonics Stock Down 0.4 %

NASDAQ:AXNX opened at $67.72 on Friday. Axonics has a 52 week low of $48.30 and a 52 week high of $69.68. The firm has a 50 day moving average of $67.42 and a 200 day moving average of $67.47. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -211.63 and a beta of 0.83.

Axonics (NASDAQ:AXNX) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.38) earnings per share (EPS) 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 analysts’ expectations of $89.79 million. Axonics had a negative return on equity of 2.58% and a negative net margin of 4.12%. The company’s quarterly revenue was up 29.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) EPS. As a group, analysts expect that Axonics will post 0.13 EPS for the current year.

Institutional Trading of Axonics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its position in Axonics by 0.9% during the fourth quarter. Mackenzie Financial Corp now owns 1,250,005 shares of the company’s stock valued at $77,788,000 after buying an additional 10,872 shares during the period. Artisan Partners Limited Partnership grew its position in Axonics by 91.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,220,889 shares of the company’s stock valued at $75,976,000 after buying an additional 583,958 shares during the period. Magnetar Financial LLC grew its position in Axonics by 218.3% during the first quarter. Magnetar Financial LLC now owns 1,146,019 shares of the company’s stock valued at $79,041,000 after buying an additional 785,981 shares during the period. KRYGER CAPITAL Ltd acquired a new stake in Axonics during the first quarter valued at $65,211,000. Finally, Dimensional Fund Advisors LP grew its position in Axonics by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 922,295 shares of the company’s stock valued at $57,397,000 after buying an additional 56,418 shares during the period. Institutional investors and hedge funds own 99.48% of the company’s stock.

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.