Neuronetics (NASDAQ:STIM) Raised to Hold at Wall Street Zen

Neuronetics (NASDAQ:STIM) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

STIM has been the topic of several other reports. Canaccord Genuity Group decreased their price objective on Neuronetics from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.00.

Neuronetics Price Performance

Shares of STIM opened at $1.42 on Friday. The stock has a market capitalization of $98.80 million, a price-to-earnings ratio of -2.41 and a beta of 0.87. Neuronetics has a 1 year low of $0.80 and a 1 year high of $4.85. The business’s 50 day simple moving average is $1.40 and its 200-day simple moving average is $1.79. The company has a debt-to-equity ratio of 2.51, a current ratio of 2.02 and a quick ratio of 1.87.

Neuronetics (NASDAQ:STIM) last issued its quarterly earnings data on Tuesday, March 17th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $41.78 million for the quarter, compared to analysts’ expectations of $40.84 million. Neuronetics had a negative return on equity of 121.26% and a negative net margin of 26.15%. As a group, equities analysts expect that Neuronetics will post -1.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Neuronetics

In related news, Director Keith J. Sullivan sold 46,289 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $1.34, for a total transaction of $62,027.26. Following the sale, the director owned 1,590,924 shares in the company, valued at approximately $2,131,838.16. This represents a 2.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Jorey Chernett purchased 169,472 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average price of $1.41 per share, for a total transaction of $238,955.52. Following the acquisition, the insider directly owned 8,743,276 shares in the company, valued at $12,328,019.16. This trade represents a 1.98% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 1,757,872 shares of company stock worth $2,273,406 and have sold 183,032 shares worth $269,588. Corporate insiders own 9.80% of the company’s stock.

Institutional Trading of Neuronetics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Presidio Capital Management LLC purchased a new stake in Neuronetics in the third quarter worth $32,000. Intrua Financial LLC purchased a new stake in Neuronetics in the third quarter worth $33,000. Sherbrooke Park Advisers LLC purchased a new stake in Neuronetics in the third quarter worth $33,000. Raymond James Financial Inc. purchased a new stake in Neuronetics in the second quarter worth $37,000. Finally, Caption Management LLC purchased a new stake in Neuronetics in the third quarter worth $38,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Neuronetics Company Profile

Neuronetics, Inc is a commercial?stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.