Axonics (NASDAQ:AXNX) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Axonics (NASDAQ:AXNX) in a report released on Monday, Benzinga reports.

Axonics Stock Up 0.1 %

Shares of NASDAQ:AXNX traded up $0.09 on Monday, hitting $68.71. 396,265 shares of the company traded hands, compared to its average volume of 844,940. The stock has a 50 day simple moving average of $67.59 and a 200-day simple moving average of $67.72. The company has a market cap of $3.51 billion, a PE ratio of -214.44 and a beta of 0.83. Axonics has a 52 week low of $48.30 and a 52 week high of $69.68.

Axonics (NASDAQ:AXNX) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $114.57 million during 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 revenue was up 23.3% compared to the same quarter last year. During the same period last year, the business earned ($0.15) EPS. As a group, sell-side analysts anticipate that Axonics will post 0.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AXNX. Headlands Technologies LLC increased its holdings in Axonics by 31.1% in the 1st quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock worth $77,000 after buying an additional 265 shares in the last quarter. NBC Securities Inc. boosted its holdings in shares of Axonics by 106.4% during the 4th quarter. NBC Securities Inc. now owns 673 shares of the company’s stock valued at $41,000 after acquiring an additional 347 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Axonics by 2.5% in the second quarter. Arizona State Retirement System now owns 14,278 shares of the company’s stock worth $960,000 after acquiring an additional 355 shares during the period. Scholtz & Company LLC raised its holdings in shares of Axonics by 7.8% during the fourth quarter. Scholtz & Company LLC now owns 4,985 shares of the company’s stock valued at $310,000 after purchasing an additional 360 shares during the last quarter. Finally, Whittier Trust Co. lifted its position in Axonics by 59.1% during the first quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock valued at $79,000 after purchasing an additional 424 shares during the period. 99.48% of the stock is owned by institutional investors.

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.