Gabelli Funds LLC Purchases Shares of 177,925 Axonics, Inc. (NASDAQ:AXNX)

Gabelli Funds LLC purchased a new stake in Axonics, Inc. (NASDAQ:AXNX) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 177,925 shares of the company’s stock, valued at approximately $12,271,000. Gabelli Funds LLC owned approximately 0.35% of Axonics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AXNX. Mackenzie Financial Corp lifted its position in shares of Axonics by 0.9% during the fourth quarter. Mackenzie Financial Corp now owns 1,250,005 shares of the company’s stock worth $77,788,000 after purchasing an additional 10,872 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Axonics by 91.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,220,889 shares of the company’s stock worth $75,976,000 after purchasing an additional 583,958 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Axonics by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 922,295 shares of the company’s stock worth $57,397,000 after purchasing an additional 56,418 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Axonics by 0.7% during the fourth quarter. Wasatch Advisors LP now owns 704,521 shares of the company’s stock worth $43,842,000 after purchasing an additional 5,046 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Axonics by 6.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 621,570 shares of the company’s stock worth $38,680,000 after purchasing an additional 40,306 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors and hedge funds.

Axonics Trading Up 0.4 %

Shares of AXNX traded up $0.30 on Friday, reaching $68.49. 499,351 shares of the company’s stock were exchanged, compared to its average volume of 318,153. The business has a 50 day moving average price of $67.48 and a two-hundred day moving average price of $67.74. Axonics, Inc. has a 12 month low of $48.30 and a 12 month high of $69.68.

Axonics (NASDAQ:AXNX) last issued its earnings results on Tuesday, April 30th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). Axonics had a negative net margin of 4.12% and a negative return on equity of 2.58%. The firm had revenue of $91.41 million during the quarter, compared to the consensus estimate of $89.79 million. During the same period in the previous year, the company posted ($0.19) EPS. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. On average, sell-side analysts anticipate that Axonics, Inc. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Axonics in a research report on Monday, May 6th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Axonics has an average rating of “Hold” and an average price target of $69.78.

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.