State of New Jersey Common Pension Fund D Trims Stock Position in Axonics, Inc. (NASDAQ:AXNX)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Axonics, Inc. (NASDAQ:AXNX) by 32.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,473 shares of the company’s stock after selling 13,152 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Axonics worth $1,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AXNX. Headlands Technologies LLC increased its holdings in Axonics by 162.1% in the second quarter. Headlands Technologies LLC now owns 2,928 shares of the company’s stock valued at $197,000 after buying an additional 1,811 shares in the last quarter. Cowen AND Company LLC purchased a new position in Axonics in the second quarter valued at $605,000. Quest Partners LLC purchased a new position in Axonics in the second quarter valued at $2,163,000. Arizona State Retirement System increased its holdings in Axonics by 2.5% in the second quarter. Arizona State Retirement System now owns 14,278 shares of the company’s stock valued at $960,000 after buying an additional 355 shares in the last quarter. Finally, Privium Fund Management UK Ltd purchased a new position in Axonics in the second quarter valued at $1,008,000. Hedge funds and other institutional investors own 99.48% of the company’s stock.

Wall Street Analyst Weigh In

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

Axonics Stock Down 0.2 %

Shares of NASDAQ AXNX opened at $69.01 on Tuesday. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -215.66 and a beta of 0.81. Axonics, Inc. has a 52-week low of $48.30 and a 52-week high of $69.68. The company’s 50-day simple moving average is $68.69 and its 200-day simple moving average is $67.96.

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

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.