Impax Asset Management Group plc Buys 30,000 Shares of Axonics, Inc. (NASDAQ:AXNX)

Impax Asset Management Group plc boosted its holdings in shares of Axonics, Inc. (NASDAQ:AXNX - Free Report) by 14.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 244,525 shares of the company's stock after purchasing an additional 30,000 shares during the period. Impax Asset Management Group plc owned about 0.48% of Axonics worth $15,217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AXNX. Allspring Global Investments Holdings LLC grew its holdings in shares of Axonics by 6.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 49,272 shares of the company's stock valued at $3,066,000 after purchasing an additional 3,182 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Axonics during the fourth quarter valued at about $817,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Axonics by 5.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,963 shares of the company's stock worth $1,429,000 after purchasing an additional 1,117 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Axonics in the fourth quarter valued at approximately $1,298,000. Finally, Glass Jacobson Investment Advisors llc raised its holdings in Axonics by 32.2% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 5,951 shares of the company's stock valued at $370,000 after buying an additional 1,451 shares during the last quarter. Institutional investors own 99.48% of the company's stock.

Axonics Stock Performance

AXNX traded down $0.05 during midday trading on Wednesday, reaching $67.70. 1,266,193 shares of the company were exchanged, compared to its average volume of 1,348,898. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -520.73 and a beta of 0.56. Axonics, Inc. has a one year low of $47.59 and a one year high of $69.68. The company's fifty day moving average price is $68.10 and its 200 day moving average price is $61.92.

Axonics (NASDAQ:AXNX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.07. Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. The business had revenue of $109.70 million during the quarter, compared to the consensus estimate of $107.33 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. Axonics's revenue was up 27.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Axonics, Inc. will post 0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on AXNX. Wolfe Research cut shares of Axonics from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, January 9th. Truist Financial reissued a "hold" rating and issued a $71.00 price target (down previously from $73.00) on shares of Axonics in a research note on Friday, January 12th. SVB Leerink reiterated a "market perform" rating and issued a $71.00 target price on shares of Axonics in a report on Friday, January 12th. Royal Bank of Canada restated a "sector perform" rating and set a $71.00 price target on shares of Axonics in a report on Thursday, February 29th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Axonics in a research note on Wednesday, January 17th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Axonics presently has an average rating of "Hold" and an average target price of $70.73.

Insider Transactions at Axonics

In other Axonics news, CEO Raymond W. Cohen sold 35,161 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total value of $2,381,806.14. Following the completion of the sale, the chief executive officer now owns 188,835 shares in the company, valued at approximately $12,791,682.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP John Woock sold 15,899 shares of Axonics stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $1,076,998.26. Following the sale, the executive vice president now directly owns 77,403 shares in the company, valued at approximately $5,243,279.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Raymond W. Cohen sold 35,161 shares of the business's stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $2,381,806.14. Following the completion of the transaction, the chief executive officer now directly owns 188,835 shares in the company, valued at $12,791,682.90. The disclosure for this sale can be found here. Insiders sold a total of 65,837 shares of company stock worth $4,459,798 in the last quarter. 1.85% of the stock is currently owned by corporate insiders.

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.