Neuronetics (NASDAQ:STIM) Stock Rating Reaffirmed by William Blair

Neuronetics (NASDAQ:STIM)‘s stock had its “market perform” rating reaffirmed by investment analysts at William Blair in a research report issued to clients and investors on Tuesday, RTT News reports.

Separately, Piper Sandler reaffirmed an “overweight” rating and issued a $8.00 target price (up from $7.00) on shares of Neuronetics in a research note on Wednesday, March 6th.

Neuronetics Stock Up 0.8 %

NASDAQ STIM opened at $4.80 on Tuesday. The business has a fifty day moving average price of $3.61 and a 200 day moving average price of $2.40. Neuronetics has a one year low of $1.03 and a one year high of $4.99. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.33 and a current ratio of 4.73. The company has a market cap of $142.85 million, a P/E ratio of -4.49 and a beta of 2.38.

Neuronetics (NASDAQ:STIM) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.07. Neuronetics had a negative return on equity of 72.76% and a negative net margin of 42.31%. The firm had revenue of $20.31 million during the quarter, compared to the consensus estimate of $19.73 million. During the same period in the prior year, the company earned ($0.30) EPS. Research analysts anticipate that Neuronetics will post -0.92 EPS for the current fiscal year.

Insider Activity at Neuronetics

In related news, CEO Keith J. Sullivan sold 23,958 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $2.96, for a total transaction of $70,915.68. Following the completion of the transaction, the chief executive officer now directly owns 1,434,171 shares in the company, valued at approximately $4,245,146.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Neuronetics news, CFO Stephen Furlong sold 14,710 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $3.51, for a total value of $51,632.10. Following the sale, the chief financial officer now owns 509,033 shares of the company’s stock, valued at approximately $1,786,705.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith J. Sullivan sold 23,958 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $2.96, for a total value of $70,915.68. Following the completion of the sale, the chief executive officer now directly owns 1,434,171 shares in the company, valued at approximately $4,245,146.16. The disclosure for this sale can be found here. Insiders sold 160,292 shares of company stock worth $519,307 in the last three months. 5.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neuronetics

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC raised its position in shares of Neuronetics by 6.8% during the 2nd quarter. FMR LLC now owns 50,623 shares of the company’s stock worth $163,000 after acquiring an additional 3,237 shares in the last quarter. Bank of America Corp DE raised its position in shares of Neuronetics by 11.7% during the 1st quarter. Bank of America Corp DE now owns 32,717 shares of the company’s stock worth $99,000 after acquiring an additional 3,440 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Neuronetics by 2.6% during the 1st quarter. Two Sigma Investments LP now owns 154,034 shares of the company’s stock worth $448,000 after acquiring an additional 3,831 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Neuronetics by 44.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,113 shares of the company’s stock worth $49,000 after acquiring an additional 4,670 shares in the last quarter. Finally, State Street Corp raised its position in shares of Neuronetics by 1.7% during the 1st quarter. State Street Corp now owns 424,335 shares of the company’s stock worth $1,286,000 after acquiring an additional 7,175 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

About Neuronetics

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.