Rhumbline Advisers Buys 9,446 Shares of Axonics, Inc. (NASDAQ:AXNX)

Rhumbline Advisers lifted its position in Axonics, Inc. (NASDAQ:AXNX) by 13.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,401 shares of the company’s stock after buying an additional 9,446 shares during the quarter. Rhumbline Advisers owned about 0.15% of Axonics worth $5,271,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AXNX. Principal Financial Group Inc. increased its stake in shares of Axonics by 461.1% during the 4th quarter. Principal Financial Group Inc. now owns 65,668 shares of the company’s stock worth $4,087,000 after purchasing an additional 53,965 shares during the last quarter. Edgestream Partners L.P. bought a new stake in Axonics in the first quarter valued at approximately $605,000. Janus Henderson Group PLC lifted its position in shares of Axonics by 637.7% in the first quarter. Janus Henderson Group PLC now owns 178,322 shares of the company’s stock valued at $12,298,000 after buying an additional 154,149 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Axonics by 91.7% in 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 last quarter. Finally, Gabelli Funds LLC acquired a new position in shares of Axonics during the 1st quarter worth approximately $12,271,000. 99.48% of the stock is currently owned by institutional investors and hedge funds.

Axonics Price Performance

Shares of NASDAQ:AXNX opened at $68.83 on Monday. The business’s 50 day simple moving average is $68.54 and its 200 day simple moving average is $67.90. Axonics, Inc. has a 1 year low of $48.30 and a 1 year high of $69.68. The company has a market capitalization of $3.52 billion, a P/E ratio of -215.09 and a beta of 0.81.

Axonics (NASDAQ:AXNX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $114.57 million during the quarter, compared to analysts’ expectations of $112.83 million. Axonics had a negative net margin of 0.42% and a negative return on equity of 0.27%. Axonics’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.15) earnings per share. On average, sell-side analysts anticipate that Axonics, Inc. will post 0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a research report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $69.57.

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.