Neuronetics (NASDAQ:STIM) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Neuronetics (NASDAQ:STIM) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Neuronetics, Inc. is a commercial-stage medical device company. It focused on designing, developing, and marketing products for patients who suffer from psychiatric disorders. NeuroStar Advanced Therapy System(R), is the transcranial magnetic stimulation treatment for depressive disorder. Neuronetics, Inc. is based in Malvern, United States. “

A number of other brokerages have also commented on STIM. Piper Sandler decreased their price objective on Neuronetics from $10.00 to $9.00 in a research report on Monday, January 3rd. decreased their price target on Neuronetics from $21.00 to $15.00 and set a buy rating on the stock in a report on Wednesday, October 13th. BTIG Research lowered Neuronetics from a buy rating to a neutral rating in a research report on Wednesday, October 13th. William Blair cut Neuronetics from an outperform rating to a market perform rating in a report on Wednesday, October 13th. Finally, JMP Securities reaffirmed a buy rating and issued a $12.00 target price (down previously from $18.00) on shares of Neuronetics in a research note on Thursday, October 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $14.25.

Neuronetics stock opened at $4.01 on Tuesday. The stock has a 50-day simple moving average of $4.36 and a 200 day simple moving average of $7.68. The stock has a market capitalization of $105.74 million, a price-to-earnings ratio of -3.65 and a beta of 2.37. Neuronetics has a 12-month low of $3.64 and a 12-month high of $22.43.

Neuronetics (NASDAQ:STIM) last announced its earnings results on Tuesday, November 9th. The company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.03). Neuronetics had a negative return on equity of 34.48% and a negative net margin of 48.71%. The company had revenue of $13.80 million during the quarter, compared to the consensus estimate of $13.80 million. During the same period in the prior year, the firm posted ($0.18) earnings per share. Equities analysts predict that Neuronetics will post -1.23 EPS for the current fiscal year.

In other news, Director Robert Cascella bought 15,000 shares of the stock in a transaction on Monday, November 22nd. The stock was purchased at an average price of $4.10 per share, with a total value of $61,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce Joseph Shook sold 7,797 shares of Neuronetics stock in a transaction on Friday, November 12th. The stock was sold at an average price of $5.30, for a total transaction of $41,324.10. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. acquired a new stake in shares of Neuronetics during the second quarter worth about $685,000. Goldman Sachs Group Inc. raised its holdings in Neuronetics by 29.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 116,586 shares of the company’s stock worth $1,867,000 after buying an additional 26,594 shares during the period. Sei Investments Co. bought a new position in Neuronetics in the second quarter valued at approximately $191,000. Deutsche Bank AG boosted its holdings in shares of Neuronetics by 11.5% in the second quarter. Deutsche Bank AG now owns 78,653 shares of the company’s stock valued at $1,260,000 after buying an additional 8,109 shares during the period. Finally, M&G Investment Management Ltd. bought a new stake in shares of Neuronetics during the second quarter worth $2,735,000. Institutional investors own 79.88% of the company’s stock.

Neuronetics Company Profile

Neuronetics, Inc commercial stage medical technology company, which engages in the designing, developing and marketing products for the patients suffering from psychiatric disorders. It operates through United States and International geographical segments. The firm offers NeuroStar TMS, a therapy system for the treatment of major depressive disorders in adult patients.

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