Gabelli Funds LLC Purchases New Position in Axonics, Inc. (NASDAQ:AXNX)

Gabelli Funds LLC purchased a new stake in shares of Axonics, Inc. (NASDAQ:AXNX) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 177,925 shares of the company’s stock, valued at approximately $12,271,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. grew 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 purchasing an additional 347 shares during the last quarter. Headlands Technologies LLC bought a new stake in Axonics during the 4th quarter worth approximately $53,000. Whittier Trust Co. grew its holdings in Axonics by 59.1% during the 1st quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock worth $79,000 after acquiring an additional 424 shares during the last quarter. Sentry Investment Management LLC bought a new stake in Axonics during the 4th quarter worth approximately $125,000. Finally, Inspirion Wealth Advisors LLC bought a new stake in Axonics during the 1st quarter worth approximately $207,000. 99.48% of the stock is owned by institutional investors.

Axonics Trading Up 0.4 %

Shares of NASDAQ:AXNX traded up $0.30 during trading on Friday, reaching $68.49. The stock had a trading volume of 499,351 shares, compared to its average volume of 318,153. The firm’s fifty day moving average is $67.48 and its 200 day moving average is $67.74. Axonics, Inc. has a 52 week low of $48.30 and a 52 week high of $69.68.

Axonics (NASDAQ:AXNX) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates 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 prior year, the company posted ($0.19) earnings per share. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. Equities analysts expect that Axonics, Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued a “hold” rating on shares of Axonics in a report on Monday, May 6th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.