The Manufacturers Life Insurance Company Cuts Position in Axonics, Inc. (NASDAQ:AXNX)

The Manufacturers Life Insurance Company lessened its position in Axonics, Inc. (NASDAQ:AXNX) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,048 shares of the company’s stock after selling 437 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Axonics were worth $1,465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AXNX. Algert Global LLC boosted its stake in shares of Axonics by 117.5% in the 3rd quarter. Algert Global LLC now owns 73,627 shares of the company’s stock valued at $5,124,000 after purchasing an additional 39,780 shares in the last quarter. Citigroup Inc. lifted its stake in Axonics by 7.8% in the third quarter. Citigroup Inc. now owns 647,152 shares of the company’s stock worth $45,042,000 after purchasing an additional 46,841 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Axonics by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 419,985 shares of the company’s stock valued at $29,231,000 after buying an additional 6,115 shares during the period. Intech Investment Management LLC bought a new position in shares of Axonics during the third quarter valued at about $907,000. Finally, Alpine Associates Management Inc. grew its stake in shares of Axonics by 3.3% during the third quarter. Alpine Associates Management Inc. now owns 2,178,157 shares of the company’s stock valued at $151,600,000 after buying an additional 69,286 shares during the last quarter. Hedge funds and other institutional investors own 99.48% of the company’s stock.

Insider Buying and Selling

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $69.41, for a total value 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. This represents a 6.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.85% of the stock is owned by insiders.

Axonics Stock Up 0.8 %

Shares of Axonics stock opened at $70.98 on Wednesday. The firm has a market cap of $3.63 billion, a PE ratio of -591.45 and a beta of 0.82. The company’s fifty day simple moving average is $70.50 and its two-hundred day simple moving average is $69.02. Axonics, Inc. has a 12-month low of $55.09 and a 12-month high of $71.05.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC restated a “hold” rating on shares of Axonics in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $71.00.

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.