Arcadia Investment Management Corp MI Sells 1,038 Shares of Axonics, Inc. (NASDAQ:AXNX)

Arcadia Investment Management Corp MI cut its stake in Axonics, Inc. (NASDAQ:AXNX) by 51.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 995 shares of the company’s stock after selling 1,038 shares during the period. Arcadia Investment Management Corp MI’s holdings in Axonics were worth $62,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. RiverPark Advisors LLC lifted its position in shares of Axonics by 14.4% in the 4th quarter. RiverPark Advisors LLC now owns 1,185 shares of the company’s stock worth $74,000 after purchasing an additional 149 shares during the period. Arizona State Retirement System grew its holdings in Axonics by 2.2% during the 3rd quarter. Arizona State Retirement System now owns 14,345 shares of the company’s stock worth $805,000 after acquiring an additional 311 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Axonics by 2.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,846 shares of the company’s stock worth $1,226,000 after acquiring an additional 446 shares in the last quarter. Hedges Asset Management LLC lifted its stake in shares of Axonics by 6.5% in the 4th quarter. Hedges Asset Management LLC now owns 8,600 shares of the company’s stock valued at $535,000 after purchasing an additional 525 shares during the period. Finally, Diversified Trust Co boosted its position in shares of Axonics by 4.2% during the 4th quarter. Diversified Trust Co now owns 12,967 shares of the company’s stock valued at $807,000 after purchasing an additional 525 shares in the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

Axonics Trading Up 0.1 %

Axonics stock traded up $0.08 during trading on Thursday, hitting $67.40. 223,970 shares of the company were exchanged, compared to its average volume of 1,171,204. The company has a market capitalization of $3.44 billion, a P/E ratio of -210.63 and a beta of 0.60. The business’s 50 day moving average is $67.72 and its 200 day moving average is $63.59. Axonics, Inc. has a 52 week low of $47.59 and a 52 week high of $69.68.

Axonics (NASDAQ:AXNX) last posted its earnings results on Tuesday, April 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.32). Axonics had a negative return on equity of 2.58% and a negative net margin of 4.12%. The firm had revenue of $91.41 million during the quarter, compared to the consensus estimate of $89.79 million. During the same quarter in the previous year, the company earned ($0.19) EPS. The business’s revenue was up 29.4% compared to the same quarter last year. Equities analysts expect that Axonics, Inc. will post 0.27 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on AXNX. Piper Sandler reaffirmed a “neutral” rating and set a $71.00 price objective (down previously from $75.00) on shares of Axonics in a research report on Friday, January 12th. CL King reaffirmed a “neutral” rating on shares of Axonics in a research note on Friday, January 12th. Needham & Company LLC reissued a “hold” rating on shares of Axonics in a research report on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $71.00 target price on shares of Axonics in a research report on Thursday, February 29th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $71.00 price objective (up previously from $68.00) on shares of Axonics in a research note on Wednesday, January 10th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $70.73.

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.