Neuronetics (NASDAQ:STIM) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Neuronetics (NASDAQ:STIM) released its quarterly earnings results on Tuesday. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02, FiscalAI reports. The business had revenue of $41.78 million during the quarter, compared to analysts’ expectations of $40.84 million. Neuronetics had a negative return on equity of 131.15% and a negative net margin of 33.88%.

Neuronetics Stock Up 5.0%

Shares of STIM opened at $1.36 on Tuesday. The stock has a market capitalization of $93.15 million, a PE ratio of -1.66 and a beta of 0.87. Neuronetics has a 1 year low of $1.17 and a 1 year high of $5.34. The company has a debt-to-equity ratio of 2.09, a quick ratio of 2.09 and a current ratio of 2.24. The company’s 50-day simple moving average is $1.64 and its 200-day simple moving average is $2.06.

Analyst Ratings Changes

A number of research analysts have commented on STIM shares. Wall Street Zen raised shares of Neuronetics from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Neuronetics currently has an average rating of “Hold” and an average target price of $7.00.

Insider Buying and Selling at Neuronetics

In related news, CEO Keith J. Sullivan sold 40,976 shares of Neuronetics stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $1.55, for a total value of $63,512.80. Following the completion of the transaction, the chief executive officer owned 1,567,012 shares in the company, valued at approximately $2,428,868.60. The trade was a 2.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 104,307 shares of company stock valued at $164,097 in the last ninety days. Insiders own 9.80% of the company’s stock.

Hedge Funds Weigh In On Neuronetics

Several institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its stake in shares of Neuronetics by 2,993.3% in the first quarter. Goldman Sachs Group Inc. now owns 630,393 shares of the company’s stock valued at $2,320,000 after acquiring an additional 610,014 shares in the last quarter. Geode Capital Management LLC grew its stake in Neuronetics by 172.3% during the 2nd quarter. Geode Capital Management LLC now owns 879,045 shares of the company’s stock worth $3,068,000 after purchasing an additional 556,268 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Neuronetics by 195,023.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 66,342 shares of the company’s stock worth $232,000 after purchasing an additional 66,308 shares during the period. New York State Common Retirement Fund acquired a new stake in Neuronetics in the 2nd quarter valued at about $103,000. Finally, Invesco Ltd. purchased a new position in shares of Neuronetics in the 2nd quarter valued at about $100,000. Institutional investors and hedge funds 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.