Fintel reports that Fmr has filed a 13G/A form with the SEC disclosing ownership of 2.72MM shares of Axonics Modulation Technologies Inc (AXNX). This represents 5.489% of the company.
In their previous filing dated February 9, 2022 they reported 3.92MM shares and 8.46% of the company, a decrease in shares of 30.63% and a decrease in total ownership of 2.98% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 48.69% Upside
As of February 6, 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 48.69% from its latest reported closing price of $57.32.
The projected annual revenue for Axonics Modulation Technologies is $334MM, an increase of 38.54%. The projected annual EPS is -$0.98.
What is the Fund Sentiment?
There are 528 funds or institutions reporting positions in Axonics Modulation Technologies. This is an increase of 38 owner(s) or 7.76% in the last quarter. Average portfolio weight of all funds dedicated to AXNX is 0.39%, an increase of 12.47%. Total shares owned by institutions increased in the last three months by 3.84% to 62,211K shares. The put/call ratio of AXNX is 0.33, indicating a bullish outlook.
What are large shareholders doing?
Bellevue Group holds 2,193K shares representing 4.43% ownership of the company. In it's prior filing, the firm reported owning 2,314K 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 1,872K shares representing 3.78% ownership of the company. In it's prior filing, the firm reported owning 1,261K shares, representing an increase of 32.65%. The firm increased its portfolio allocation in AXNX by 90.64% over the last quarter.
Bamco holds 1,843K shares representing 3.72% ownership of the company. No change in the last quarter.
Axa holds 1,543K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 1,781K 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 1,512K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 1,529K 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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