Gabelli Funds LLC Has $18.42 Million Stake in Axonics, Inc. (NASDAQ:AXNX)

Gabelli Funds LLC grew its holdings in Axonics, Inc. (NASDAQ:AXNX) by 54.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 273,975 shares of the company’s stock after purchasing an additional 96,050 shares during the quarter. Gabelli Funds LLC owned about 0.54% of Axonics worth $18,419,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Headlands Technologies LLC grew its holdings in Axonics by 31.1% in the 1st quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock valued at $77,000 after buying an additional 265 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Axonics by 59.1% in the first quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock worth $79,000 after acquiring an additional 424 shares during the last quarter. Inspirion Wealth Advisors LLC bought a new position in Axonics during the first quarter worth $207,000. Janney Montgomery Scott LLC acquired a new position in Axonics during the 1st quarter valued at $218,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in Axonics by 33.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 3,580 shares of the company’s stock valued at $223,000 after purchasing an additional 890 shares during the period. 99.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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 given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $69.57.

Axonics Stock Performance

NASDAQ:AXNX opened at $69.15 on Monday. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -216.09 and a beta of 0.81. The company has a 50-day moving average of $68.67 and a 200-day moving average of $67.95. Axonics, Inc. has a 52 week low of $48.30 and a 52 week high of $69.68.

Axonics (NASDAQ:AXNX) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Axonics had a negative return on equity of 0.27% and a negative net margin of 0.42%. The company had revenue of $114.57 million for the quarter, compared to the consensus estimate of $112.83 million. During the same period in the previous year, the business earned ($0.15) earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. Sell-side analysts forecast that Axonics, Inc. will post 0.24 EPS for the current 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.