Quest Partners LLC Invests $2.16 Million in Axonics, Inc. (NASDAQ:AXNX)

Quest Partners LLC acquired a new stake in shares of Axonics, Inc. (NASDAQ:AXNX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 32,176 shares of the company’s stock, valued at approximately $2,163,000. Quest Partners LLC owned approximately 0.06% of Axonics at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AXNX. NBC Securities Inc. lifted its holdings in shares of Axonics by 106.4% in the 4th quarter. NBC Securities Inc. now owns 673 shares of the company’s stock worth $41,000 after acquiring an additional 347 shares during the last quarter. Headlands Technologies LLC lifted its stake in Axonics by 31.1% in the first quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock worth $77,000 after purchasing an additional 265 shares during the last quarter. Whittier Trust Co. boosted 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 buying an additional 424 shares during the period. Inspirion Wealth Advisors LLC purchased a new stake in Axonics during the first quarter valued at about $207,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Axonics during the first quarter valued at about $218,000. Institutional investors own 99.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a “hold” rating on shares of Axonics in a report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Axonics has an average rating of “Hold” and an average price target of $69.57.

Axonics Stock Performance

Shares of NASDAQ:AXNX opened at $68.83 on Monday. The stock’s 50-day moving average is $68.40 and its 200 day moving average is $67.88. Axonics, Inc. has a 1 year low of $48.30 and a 1 year high of $69.68.

Axonics (NASDAQ:AXNX) last posted its earnings results on Thursday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm 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 period in the previous year, the firm earned ($0.15) earnings per share. As a group, analysts forecast that Axonics, Inc. will post 0.14 EPS for the current fiscal year.

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.