Ready to Jump After Recent Trade: Axonics Inc. (AXNX)

Axonics Inc. (NASDAQ: AXNX) stock fell -2.49% on Monday to $60.30 against a previous-day closing price of $61.84. With 0.69 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.69 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $62.45 whereas the lowest price it dropped to was $59.80. The 52-week range on AXNX shows that it touched its highest point at $79.92 and its lowest point at $38.41 during that stretch. It currently has a 1-year price target of $83.56. Beta for the stock currently stands at 0.42.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AXNX was down-trending over the past week, with a drop of -7.06%, but this was down by -2.13% over a month. Three-month performance dropped to -11.96% while six-month performance fell -3.46%. The stock gained 21.06% in the past year, while it has lost -3.57% so far this year. A look at the trailing 12-month EPS for AXNX yields -1.66 with Next year EPS estimates of -0.94. For the next quarter, that number is -0.26. This implies an EPS growth rate of -25.20% for this year and 40.10% for next year.

Float and Shares Shorts:

At present, 47.21 million AXNX shares are outstanding with a float of 47.10 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.61 million, which was 7.35% higher than short shares on Sep 14, 2022. In addition to Mr. Raymond W. Cohen as the firm’s CEO & Director, Mr. Danny L. Dearen serves as its Pres & CFO.

Institutional Ownership:

Through their ownership of 103.71% of AXNX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 61.69% of AXNX, in contrast to 39.90% held by mutual funds. Shares owned by individuals account for 34.02%. As the largest shareholder in AXNX with 7.97% of the stake, The Vanguard Group, Inc. holds 3,949,288 shares worth 3,949,288. A second-largest stockholder of AXNX, BlackRock Fund Advisors, holds 3,020,315 shares, controlling over 6.10% of the firm’s shares. Bellevue Asset Management AG is the third largest shareholder in AXNX, holding 2,193,200 shares or 4.43% stake. With a 3.06% stake in AXNX, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,513,435 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.58% of AXNX stock, is the second-largest Mutual Fund holder. It holds 1,276,310 shares valued at 79.81 million. Invesco Discovery Fund holds 2.35% of the stake in AXNX, owning 1,165,172 shares worth 72.86 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AXNX since 10 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AXNX analysts setting a high price target of $100.00 and a low target of $65.00, the average target price over the next 12 months is $83.56. Based on these targets, AXNX could surge 65.84% to reach the target high and rise by 7.79% to reach the target low. Reaching the average price target will result in a growth of 38.57% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AXNX will report FY 2022 earnings on 02/23/2024. Analysts have provided yearly estimates in a range of -$1.48 being high and -$1.75 being low. For AXNX, this leads to a yearly average estimate of -$1.56. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Axonics Inc. surprised analysts by $0.13 when it reported -$0.34 EPS against a consensus estimate of -$0.47. The surprise factor in the prior quarter was $0.08. Based on analyst estimates, the high estimate for the next quarter is -$0.18 and the low estimate is -$0.43. The average estimate for the next quarter is thus -$0.26.

Summary of Insider Activity:

Insiders traded AXNX stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 2,000 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 52 over the past year. The total number of shares bought during that period was 520,085 while 480,109 shares were sold.

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