Neuronetics (NASDAQ:STIM) Director Sells $62,027.26 in Stock

Neuronetics, Inc. (NASDAQ:STIM) Director Keith Sullivan sold 46,289 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $1.34, for a total value of $62,027.26. Following the transaction, the director owned 1,590,924 shares of the company’s stock, valued at $2,131,838.16. This represents a 2.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Neuronetics Stock Performance

NASDAQ:STIM opened at $1.29 on Friday. The company has a market cap of $89.37 million, a price-to-earnings ratio of -2.19 and a beta of 0.87. Neuronetics, Inc. has a 1 year low of $0.80 and a 1 year high of $4.85. The stock’s 50 day simple moving average is $1.55 and its two-hundred day simple moving average is $1.96. 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 posted its earnings results on Tuesday, March 17th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Neuronetics had a negative return on equity of 121.26% and a negative net margin of 26.15%.The firm had revenue of $41.78 million during the quarter, compared to the consensus estimate of $40.84 million. As a group, equities analysts anticipate that Neuronetics, Inc. will post -1.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on STIM shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of Neuronetics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Canaccord Genuity Group dropped their price target on Neuronetics from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.00.

Institutional Investors Weigh In On Neuronetics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC grew its stake in shares of Neuronetics by 260.7% during the third quarter. HighTower Advisors LLC now owns 577,069 shares of the company’s stock valued at $1,575,000 after buying an additional 417,087 shares during the last quarter. UBS Group AG raised its holdings in shares of Neuronetics by 20.4% in the fourth quarter. UBS Group AG now owns 2,607,047 shares of the company’s stock worth $3,598,000 after buying an additional 442,216 shares during the period. Presidio Capital Management LLC lifted its stake in shares of Neuronetics by 217.0% during the 4th quarter. Presidio Capital Management LLC now owns 37,436 shares of the company’s stock worth $52,000 after acquiring an additional 25,625 shares during the last quarter. David J Yvars Group boosted its holdings in Neuronetics by 22.1% during the 4th quarter. David J Yvars Group now owns 31,230 shares of the company’s stock valued at $43,000 after acquiring an additional 5,650 shares during the period. Finally, Centiva Capital LP boosted its holdings in Neuronetics by 110.2% during the 3rd quarter. Centiva Capital LP now owns 117,322 shares of the company’s stock valued at $320,000 after acquiring an additional 61,501 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.

About Neuronetics

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.