Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 3.63MM shares of Axonics Modulation Technologies Inc (AXNX). This represents 7.3% of the company.
In their previous filing dated February 3, 2022 they reported 3.53MM shares and 7.60% of the company, an increase in shares of 2.99% and a decrease in total ownership of 0.30% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 39.49% Upside
As of January 31, 2023, the average one-year price target for Axonics Modulation Technologies is $85.23. The forecasts range from a low of $65.65 to a high of $105.00. The average price target represents an increase of 39.49% from its latest reported closing price of $61.10.
The projected annual revenue for Axonics Modulation Technologies is $334MM, an increase of 38.54%. The projected annual EPS is $-0.98.
Fund Sentiment
There are 533 funds or institutions reporting positions in Axonics Modulation Technologies. This is an increase of 58 owner(s) or 12.21%.
Average portfolio weight of all funds dedicated to US:AXNX is 0.3845%, an increase of 10.0836%. Total shares owned by institutions increased in the last three months by 4.49% to 62,188K shares.
What are large shareholders doing?
Bellevue Group holds 2,193,200 shares representing 4.43% ownership of the company. In it's prior filing, the firm reported owning 2,313,852 shares, representing a decrease of 5.50%. The firm increased its portfolio allocation in AXNX by 19.62% over the last quarter.
Lord, Abbett & Co. holds 1,871,874 shares representing 3.78% ownership of the company. In it's prior filing, the firm reported owning 1,260,783 shares, representing an increase of 32.65%. The firm increased its portfolio allocation in AXNX by 90.64% over the last quarter.
Bamco holds 1,843,114 shares representing 3.72% ownership of the company. No change in the last quarter.
Axa holds 1,542,945 shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 1,780,903 shares, representing a decrease of 15.42%. The firm increased its portfolio allocation in AXNX by 14.32% over the last quarter.
Loomis Sayles & Co L P holds 1,512,368 shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 1,529,450 shares, representing a decrease of 1.13%. The firm increased its portfolio allocation in AXNX by 34.17% over the last quarter.
Axonics Background Information
(This description is provided by the company.)
Based in Irvine, Calif., Axonics has developed and is commercializing novel implantable sacral neuromodulation (SNM) devices for patients with bladder and bowel dysfunction, and through its acquisition of Bulkamid®, offers a best-in-class urethral bulking agent for women with stress urinary incontinence. These conditions significantly impact quality of life. Overactive bladder affects an estimated 87 million adults in the U.S. and Europe, with an additional 40 million adults estimated to suffer from fecal incontinence. Stress urinary incontinence affects an estimated 20 million women in the U.S. alone. Axonics' clinically proven products are offered at hundreds of medical centers across the U.S. and abroad. Reimbursement coverage is well established in the U.S. and is a covered service in most European countries.
This story originally appeared on Fintel.
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