Axonics Stock Price Drops by -1.55% Despite Strong Demand on Friday, 06/16/23
June 22, 2023
🌧️Trending News
Axonics ($NASDAQ:AXNX) Inc. is a medical technology company focused on developing and commercializing implantable sacral neuromodulation (SNM) systems for treating overactive bladder, fecal incontinence and urinary retention. On Friday 06/16/23, despite strong demand from investors, the stock price dropped by 1.55% from its closing price the previous day. This was a surprising move, given that investors had pushed the stock higher in anticipation of strong earnings and revenue growth. Analysts believe that the stock’s decline on Friday could be attributed to profit taking by investors who had bought prior to the announcement of the strong demand.
Additionally, some investors may have opted to take profits rather than riding out the potential of future upside. Despite the drop in its stock price, Axonics Inc. continues to be a compelling investment opportunity with strong potential for future growth.
Analysis
At GoodWhale, we conducted an analysis of AXONICS‘s wellbeing. After careful research, we have concluded that AXONICS is a medium risk investment in terms of financial and business aspects. After taking a deeper look into their balance sheet, we found one risk warning that may be of concern. If you want to learn more about this risk warning, please register on goodwhale.com. We are continually monitoring AXONICS and the market in order to better inform our users for more reliable investments. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Axonics. More…
| Total Revenues | Net Income | Net Margin |
| 295.93 | -46.28 | -7.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Axonics. More…
| Operations | Investing | Financing |
| 11.58 | -119.37 | 134.45 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Axonics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 665.69 | 89.08 | 11.51 |
Key Ratios Snapshot
Some of the financial key ratios for Axonics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 96.4% | – | -16.6% |
| FCF Margin | ROE | ROA |
| 3.0% | -5.3% | -4.6% |
Peers
The company’s products include the Axonics r-SNM System, a sacral neuromodulation system that is used to treat urinary incontinence and bowel dysfunction; and the Axonics Sacral Neuromodulation System, a rechargeable neuromodulation system that is used to treat urinary incontinence, bowel dysfunction, and sacral pain. Alphatec Holdings Inc, Xtant Medical Holdings Inc, INVO Bioscience Inc are all companies that compete with Axonics Inc.
– Alphatec Holdings Inc ($NASDAQ:ATEC)
Alphatec Holdings, Inc. is a medical device company that designs, develops, manufactures and markets spine products for the surgical treatment of spinal disorders associated with degenerative disc disease and trauma. The company’s product offerings include a broad range of minimally invasive and stand-alone products used in spine surgery. Alphatec’s core products consist of facet fixation systems, interbody fusion cages, thoracolumbar fixation systems, and related instrumentation. The company also offers a line of biologics products. Alphatec has a market cap of 1.07B as of 2022 and a return on equity of -374.34%.
– Xtant Medical Holdings Inc ($NYSEAM:XTNT)
Xtant Medical Holdings Inc is a medical device company that develops, manufactures, and markets regenerative medicine products and medical devices for the orthopedic, spine, and sports medicine markets worldwide.
The company has a market cap of $68.18 million and a return on equity of -14.12%. Xtant Medical Holdings Inc develops, manufactures, and markets regenerative medicine products and medical devices for the orthopedic, spine, and sports medicine markets worldwide.
– INVO Bioscience Inc ($NASDAQ:INVO)
Invo Bioscience is a biotech company that focuses on developing and commercializing in vitro fertilization (IVF) products. The company’s products are used by fertility clinics to improve IVF success rates and reduce the costs associated with fertility treatments.
Invo Bioscience has a market cap of $14 million and a return on equity of -107.22%. The company’s products are used by fertility clinics to improve IVF success rates and reduce the costs associated with fertility treatments.
Summary
Investors should consider Axonics Inc. stock as the demand for the company’s stocks has been strong. On Friday, June 16th, the value of the stock decreased by 1.55%, yet the outlook remains positive. Investors should research the company’s financials, operations and potential risks before investing, as well as the current market conditions and the company’s competitors. It is important to diversify portfolio and risk management strategies when investing to maximize returns.
