486,112 Shares in Axonics, Inc. (NASDAQ:AXNX) Acquired by Absolute Gestao de Investimentos Ltda.

Absolute Gestao de Investimentos Ltda. acquired a new stake in Axonics, Inc. (NASDAQ:AXNX) during the second quarter, according to its most recent filing with the SEC. The firm acquired 486,112 shares of the company’s stock, valued at approximately $32,681,000. Axonics comprises approximately 16.9% of Absolute Gestao de Investimentos Ltda.’s holdings, making the stock its 2nd largest holding. Absolute Gestao de Investimentos Ltda. owned about 0.95% of Axonics as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC raised its holdings in Axonics by 31.1% in the first quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock worth $77,000 after purchasing an additional 265 shares during the period. Whittier Trust Co. increased its stake in Axonics by 59.1% in the 1st 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 last quarter. Inspirion Wealth Advisors LLC bought a new stake in Axonics during the 1st quarter worth about $207,000. Janney Montgomery Scott LLC acquired a new position in shares of Axonics during the 1st quarter worth about $218,000. Finally, Xponance Inc. grew its holdings in shares of Axonics by 7.5% in the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company’s stock valued at $217,000 after acquiring an additional 225 shares in the last quarter. 99.48% of the stock is owned by institutional investors and hedge funds.

Axonics Stock Up 0.4 %

Shares of AXNX stock opened at $69.26 on Wednesday. Axonics, Inc. has a fifty-two week low of $48.30 and a fifty-two week high of $69.68. The stock’s fifty day moving average price is $68.72 and its two-hundred day moving average price is $67.97.

Axonics (NASDAQ:AXNX) last issued its earnings results on Thursday, August 1st. The company reported $0.13 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $114.57 million during the quarter, compared to the consensus estimate of $112.83 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. The business’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, analysts forecast that Axonics, Inc. will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

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