BSX's acquisition of Axonics marks its entry into sacral neuromodulation and complements its Urology business.

MARLBOROUGH, Mass. , Nov. 15, 2024 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announced the close of its acquisition of Axonics, Inc. (Nasdaq: AXNX), a medical technology company focused on the development and commercialization of differentiated devices to treat urinary and bowel dysfunction.

Axonics Modulation Technologies (AXNX) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.08 per share a year ago.

AXNX's R20 rechargeable SNM system, offering long-lasting treatment for bladder and bowel dysfunction, gains approval in Australia.

IRVINE, Calif.--(BUSINESS WIRE)--Axonics, Inc. (Nasdaq: AXNX) today announced that it has received regulatory approval from the Therapeutic Goods Administration (TGA) for marketing the Axonics R20® rechargeable sacral neuromodulation (SNM) system in Australia to treat adults with overactive bladder and fecal incontinence. The R20 neurostimulator is labeled for a functional life in the body of at least 20 years and reduces how frequently a patient needs to recharge their implanted device to once.

AXNX stock continues to gain following a favorable court ruling last week in a patent litigation with Medtronic.

IRVINE, Calif.--(BUSINESS WIRE)--Axonics, Inc. (Nasdaq: AXNX) today announced that the jury has returned a unanimous verdict in the patent infringement lawsuit brought by Medtronic against Axonics in U.S. District Court for the Central District of California. The jury found that Axonics does not infringe any of the three patents-in-suit. “A jury of our peers recognized that Axonics' proprietary tined lead design and temperature sensor technology is differentiated from our competitor's intellect.

Axonics Modulation Technologies (AXNX) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to loss of $0.15 per share a year ago.

Amalgamated Bank cut its holdings in shares of Axonics, Inc. (NASDAQ:AXNX – Free Report) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,052 shares of the company’s stock after selling 499 shares during the period. Amalgamated Bank’s holdings in Axonics were worth $439,000 at the end of the most recent quarter. Several other institutional investors and hedge funds have also added to or reduced their stakes in AXNX. Headlands Technologies LLC acquired a new stake in shares of Axonics during the fourth quarter valued at approximately $53,000. RiverPark Advisors LLC acquired a new stake in shares of Axonics during the third quarter valued at approximately $58,000. C M Bidwell & Associates Ltd. raised its holdings in shares of Axonics by 108.2% during the third quarter. C M Bidwell & Associates Ltd. now owns 1,270 shares of the company’s stock valued at $71,000 after acquiring an additional 660 shares during the period. Sentry Investment Management LLC acquired a new stake in shares of Axonics during the fourth quarter valued at approximately $125,000. Finally, Covestor Ltd raised its holdings in shares of Axonics by 40.8% during the third quarter. Covestor Ltd now owns 3,143 shares of the company’s stock valued at $176,000 after acquiring an additional 911 shares during the period. 99.48% of the stock is owned by institutional investors and hedge funds. Axonics Stock Down 0.2 % AXNX stock opened at $67.55 on Monday. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -211.09 and a beta of 0.60. Axonics, Inc. has a 12 month low of $47.59 and a 12 month high of $69.68. The firm has a 50 day moving average of $67.72 and a two-hundred day moving average of $64.46. Axonics (NASDAQ:AXNX – Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The business had revenue of $91.41 million during the quarter, compared to the consensus estimate of $89.79 million. Axonics had a negative return on equity of 2.58% and a negative net margin of 4.12%. The business’s revenue was up 29.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) earnings per share. On average, research analysts expect that Axonics, Inc. will post 0.13 EPS for the current fiscal year. Wall Street Analysts Forecast Growth AXNX has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Axonics in a report on Monday, May 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $71.00 price objective on shares of Axonics in a research note on Thursday, February 29th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $70.73. Read Our Latest Analysis on Axonics Axonics Profile (Free Report) 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.

IRVINE, Calif.--(BUSINESS WIRE)--Axonics, Inc. (Nasdaq: AXNX) today announced that it has received regulatory approval from the Therapeutic Goods Administration (TGA) for marketing the Axonics F15™ recharge-free sacral neuromodulation (SNM) system in Australia to treat adults with overactive bladder. “Approval of the Axonics recharge-free system is welcome news for Australians with bladder and bowel dysfunction,” said Dr. Ailsa Wilson Edwards, a urologist at Calvary North Adelaide Hospital. “I.