Axonics (NASDAQ:AXNX) Sets New 12-Month High - Still a Buy?

Axonics, Inc. (NASDAQ:AXNX - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $69.96 and last traded at $69.88, with a volume of 375083 shares changing hands. The stock had previously closed at $69.66.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a "hold" rating on shares of Axonics in a research report on Monday, August 5th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Axonics currently has an average rating of "Hold" and an average price target of $69.57.

Axonics Stock Up 1.0 %

The firm has a fifty day moving average of $69.00 and a 200-day moving average of $68.07. The firm has a market cap of $3.59 billion, a P/E ratio of -219.88 and a beta of 0.82.

Axonics (NASDAQ:AXNX - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.03. The company had revenue of $114.57 million for the quarter, compared to analysts' expectations of $112.83 million. Axonics had a negative return on equity of 0.27% and a negative net margin of 0.42%. The business's revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.15) EPS. On average, equities analysts forecast that Axonics, Inc. will post 0.24 EPS for the current year.

Insider Buying and Selling

In other news, CFO Kari Leigh Keese sold 2,961 shares of Axonics stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total transaction of $205,523.01. Following the completion of the transaction, the chief financial officer now directly owns 40,362 shares in the company, valued at approximately $2,801,526.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Axonics

Several hedge funds and other institutional investors have recently modified their holdings of AXNX. Headlands Technologies LLC raised its holdings in Axonics by 31.1% in the 1st quarter. Headlands Technologies LLC now owns 1,117 shares of the company's stock valued at $77,000 after acquiring an additional 265 shares during the period. Whittier Trust Co. increased its stake in shares of Axonics by 59.1% during the first quarter. Whittier Trust Co. now owns 1,142 shares of the company's stock worth $79,000 after purchasing an additional 424 shares during the period. Inspirion Wealth Advisors LLC acquired a new stake in Axonics during the 1st quarter worth approximately $207,000. Xponance Inc. boosted its stake in Axonics by 7.5% in the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company's stock valued at $217,000 after purchasing an additional 225 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Axonics in the 1st quarter valued at $218,000. Institutional investors own 99.48% of the company's stock.

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.

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