Neuronetics (NASDAQ:STIM) Releases Earnings Results, Misses Estimates By $0.01 EPS

Neuronetics (NASDAQ:STIMGet Rating) announced its quarterly earnings data on Thursday. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01), MarketWatch Earnings reports. Neuronetics had a negative net margin of 56.39% and a negative return on equity of 33.24%. During the same period last year, the business earned ($0.31) earnings per share. Neuronetics updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

Neuronetics stock traded up $0.31 during midday trading on Friday, hitting $2.57. 487,389 shares of the company were exchanged, compared to its average volume of 258,965. The firm has a market capitalization of $68.43 million, a PE ratio of -2.13 and a beta of 2.31. Neuronetics has a fifty-two week low of $1.98 and a fifty-two week high of $17.92. The business has a fifty day simple moving average of $2.92 and a two-hundred day simple moving average of $3.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.93 and a current ratio of 7.34.

Separately, Zacks Investment Research lowered Neuronetics from a “buy” rating to a “hold” rating in a report on Saturday, March 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $10.06.

In other Neuronetics news, CFO Stephen Furlong sold 10,029 shares of the stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $3.00, for a total transaction of $30,087.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Cannell Capital Llc purchased 106,455 shares of the stock in a transaction on Wednesday, May 11th. The shares were acquired at an average price of $2.13 per share, for a total transaction of $226,749.15. Following the transaction, the insider now directly owns 3,329,150 shares of the company’s stock, valued at approximately $7,091,089.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 296,413 shares of company stock worth $764,319. 5.20% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STIM. Bank of America Corp DE lifted its position in shares of Neuronetics by 710.4% in the second quarter. Bank of America Corp DE now owns 8,112 shares of the company’s stock valued at $130,000 after acquiring an additional 7,111 shares in the last quarter. Morgan Stanley grew its holdings in Neuronetics by 161.0% in the 3rd quarter. Morgan Stanley now owns 143,962 shares of the company’s stock valued at $944,000 after buying an additional 88,810 shares in the last quarter. Royal Bank of Canada grew its holdings in Neuronetics by 40.7% in the 3rd quarter. Royal Bank of Canada now owns 60,360 shares of the company’s stock valued at $396,000 after buying an additional 17,451 shares in the last quarter. Millennium Management LLC increased its stake in shares of Neuronetics by 62.8% in the 3rd quarter. Millennium Management LLC now owns 103,357 shares of the company’s stock worth $678,000 after acquiring an additional 39,875 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Neuronetics by 469.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,030 shares of the company’s stock worth $33,000 after acquiring an additional 4,146 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Neuronetics Company Profile (Get Rating)

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder.

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Earnings History for Neuronetics (NASDAQ:STIM)

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