Sentry Investment Management LLC Makes New $125,000 Investment in Axonics, Inc. (NASDAQ:AXNX)

Sentry Investment Management LLC purchased a new position in shares of Axonics, Inc. (NASDAQ:AXNX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,012 shares of the company’s stock, valued at approximately $125,000.

Other large investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. acquired a new stake in Axonics in the fourth quarter worth $1,298,000. Invesco Ltd. boosted its holdings in Axonics by 5.8% in the third quarter. Invesco Ltd. now owns 1,634,984 shares of the company’s stock worth $91,755,000 after acquiring an additional 90,132 shares in the last quarter. Algert Global LLC acquired a new stake in Axonics in the third quarter valued at approximately $1,313,000. Hedges Asset Management LLC increased its holdings in shares of Axonics by 6.5% during the fourth quarter. Hedges Asset Management LLC now owns 8,600 shares of the company’s stock valued at $535,000 after acquiring an additional 525 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Axonics during the third quarter valued at approximately $68,499,000. Institutional investors and hedge funds own 99.48% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $71.00 price target on shares of Axonics in a research report on Thursday, February 29th. Wolfe Research downgraded shares of Axonics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 9th. SVB Leerink restated a “market perform” rating and issued a $71.00 target price on shares of Axonics in a report on Friday, January 12th. CL King reiterated a “neutral” rating on shares of Axonics in a research note on Friday, January 12th. Finally, Truist Financial reissued a “hold” rating and issued a $71.00 price objective (down from $73.00) on shares of Axonics in a research note on Friday, January 12th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $70.73.

Insider Activity

In related news, CFO Kari Leigh Keese sold 3,489 shares of Axonics stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total value of $236,344.86. Following the transaction, the chief financial officer now owns 43,323 shares in the company, valued at approximately $2,934,700.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Raymond W. Cohen sold 35,161 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $2,381,806.14. Following the completion of the sale, the chief executive officer now directly owns 188,835 shares in the company, valued at approximately $12,791,682.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kari Leigh Keese sold 3,489 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total value of $236,344.86. Following the transaction, the chief financial officer now owns 43,323 shares in the company, valued at $2,934,700.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,837 shares of company stock valued at $4,459,798. Corporate insiders own 1.85% of the company’s stock.

Axonics Stock Performance

Shares of NASDAQ:AXNX opened at $67.20 on Thursday. The company has a market capitalization of $3.43 billion, a P/E ratio of -516.88 and a beta of 0.56. The company’s 50-day moving average is $68.06 and its 200 day moving average is $62.32. Axonics, Inc. has a fifty-two week low of $47.59 and a fifty-two week high of $69.68.

Axonics (NASDAQ:AXNX) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $109.70 million for the quarter, compared to analyst estimates of $107.33 million. Axonics had a negative net margin of 1.66% and a negative return on equity of 1.00%. The business’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 EPS. As a group, research analysts predict that Axonics, Inc. will post 0.32 earnings per share for the current 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.