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Axonics (AXNX) Soars 10.6%: Is Further Upside Left in the Stock?
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Axonics Modulation Technologies (AXNX - Free Report) shares soared 10.6% in the last trading session to close at $61.76. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17% loss over the past four weeks.
Axonics scored a strong price increase driven by the optimism surrounding the company’s announcement of preliminary fiscal fourth quarter 2022 results on Jan 11. The company announced that total revenue for fourth quarter is expected to be in the range of $85.6 to $86.0 million, an increase of 61% year-over-year. The Zacks Consensus Estimate for the fourth quarter revenue suggests a growth of 40%. Management also issued fiscal 2023 total net revenue guidance which is expected to be $342 million, based on sacral neuromodulation and Bulkamid revenue each growing 25% compared to fiscal year 2022, raising investors’ optimism.
This medical technology company is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of +26.5%. Revenues are expected to be $74.41 million, up 40% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Axonics, the consensus EPS estimate for the quarter has been revised 4.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on AXNX going forward to see if this recent jump can turn into more strength down the road.
Axonics belongs to the Zacks Medical Info Systems industry. Another stock from the same industry, Computer Programs and Systems , closed the last trading session 1.3% higher at $28.55. Over the past month, CPSI has returned 0.2%.
Computer Programs and Systems' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.59. Compared to the company's year-ago EPS, this represents a change of -15.7%. Computer Programs and Systems currently boasts a Zacks Rank of #4 (Sell).
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Axonics (AXNX) Soars 10.6%: Is Further Upside Left in the Stock?
Axonics Modulation Technologies (AXNX - Free Report) shares soared 10.6% in the last trading session to close at $61.76. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17% loss over the past four weeks.
Axonics scored a strong price increase driven by the optimism surrounding the company’s announcement of preliminary fiscal fourth quarter 2022 results on Jan 11. The company announced that total revenue for fourth quarter is expected to be in the range of $85.6 to $86.0 million, an increase of 61% year-over-year. The Zacks Consensus Estimate for the fourth quarter revenue suggests a growth of 40%. Management also issued fiscal 2023 total net revenue guidance which is expected to be $342 million, based on sacral neuromodulation and Bulkamid revenue each growing 25% compared to fiscal year 2022, raising investors’ optimism.
This medical technology company is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of +26.5%. Revenues are expected to be $74.41 million, up 40% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Axonics, the consensus EPS estimate for the quarter has been revised 4.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on AXNX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Axonics belongs to the Zacks Medical Info Systems industry. Another stock from the same industry, Computer Programs and Systems , closed the last trading session 1.3% higher at $28.55. Over the past month, CPSI has returned 0.2%.
Computer Programs and Systems' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.59. Compared to the company's year-ago EPS, this represents a change of -15.7%. Computer Programs and Systems currently boasts a Zacks Rank of #4 (Sell).