Axonics Shares Climb 20% After Acquisition by Boston Scientific
By Ben Glickman
Shares of Axonics rose on Monday after the company agreed be acquired for $3.7 billion in cash by Boston Scientific.
The stock was up 20% to $69.25, its highest intraday level since December 2022. Shares are up about 26% in the last year.
Boston Scientific said before the open it would pay $71 per share in cash for Axonics, which is focused on developing products to address bladder and bowel issues. Axonics will become a wholly-owned subsidiary of Boston Scientific.
The deal is expected to close in the first half of this year.
Axonics said Monday it now expects fourth-quarter revenue of $109.3 million to $109.7 million. Analysts polled by FactSet expected fourth-quarter revenue of $105.6 million.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
January 08, 2024 11:21 ET (16:21 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening in the Markets This Week
-
4 Top Dividend-Paying REIT Stock Picks
-
After Earnings, Is Netflix Stock a Buy, a Sell, or Fairly Valued?
-
P-CAPE: A Better Way for Investors to Estimate Future Returns
-
Which Stocks Have Driven the Stealth Large-Value Rally?
-
Forecasts for Q2 GDP Report Show a Healthy but Slowing Economy
-
5 Stocks to Buy as the Market Rally Broadens
-
4 Top US Travel Stock Picks
-
How Do Interest Rates Affect Stock Market Returns?
-
American Airlines Earnings: Ticket Distribution Misstep Affected Results
-
Going Into Earnings, Is Albemarle Stock a Buy, a Sell, or Fairly Valued?
-
3 Top Cybersecurity Stock Picks for Long-Term Investors
-
AbbVie Earnings: Firm Sees Strong Next-Generation Immunology Drugs Sales
-
Ford Earnings: Warranty Problems on Older Vehicles Slam Results
-
ServiceNow Earnings: Operating on a Higher Plane Within Enterprise Software