William Blair Reaffirms “Market Perform” Rating for Neuronetics (NASDAQ:STIM)

William Blair restated their market perform rating on shares of Neuronetics (NASDAQ:STIM) in a report issued on Tuesday, RTT News reports.

Separately, Piper Sandler restated an overweight rating and set a $8.00 price objective (up from $7.00) on shares of Neuronetics in a research report on Wednesday, March 6th.

Neuronetics Trading Down 0.8 %

Neuronetics stock opened at $4.76 on Tuesday. 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 firm has a market cap of $141.66 million, a price-to-earnings ratio of -4.45 and a beta of 2.38. Neuronetics has a 1 year low of $1.03 and a 1 year high of $4.99. The firm’s 50 day moving average price is $3.67 and its two-hundred day moving average price is $2.44.

Neuronetics (NASDAQ:STIM) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.07. Neuronetics had a negative net margin of 42.31% and a negative return on equity of 72.76%. The firm had revenue of $20.31 million for the quarter, compared to analyst estimates of $19.73 million. During the same quarter in the previous year, the business posted ($0.30) earnings per share. On average, research analysts predict that Neuronetics will post -0.92 EPS for the current fiscal year.

Insider Activity at Neuronetics

In related news, CEO Keith J. Sullivan sold 10,013 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $3.01, for a total transaction of $30,139.13. Following the transaction, the chief executive officer now directly owns 1,167,645 shares of the company’s stock, valued at $3,514,611.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Neuronetics news, CEO Keith J. Sullivan sold 10,013 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $3.01, for a total value of $30,139.13. Following the completion of the sale, the chief executive officer now directly owns 1,167,645 shares of the company’s stock, valued at $3,514,611.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen Furlong sold 14,710 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $3.51, for a total transaction of $51,632.10. Following the completion of the sale, the chief financial officer now directly owns 509,033 shares of the company’s stock, valued at $1,786,705.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,292 shares of company stock valued at $519,307. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of Neuronetics

Several large investors have recently added to or reduced their stakes in STIM. Cannell Capital LLC lifted its stake in shares of Neuronetics by 2.4% in the third quarter. Cannell Capital LLC now owns 2,833,982 shares of the company’s stock worth $3,826,000 after buying an additional 65,240 shares during the last quarter. Kent Lake Capital LLC lifted its stake in shares of Neuronetics by 229.8% in the third quarter. Kent Lake Capital LLC now owns 2,329,287 shares of the company’s stock worth $3,145,000 after buying an additional 1,622,938 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Neuronetics by 1.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,417,722 shares of the company’s stock worth $4,111,000 after buying an additional 21,239 shares during the last quarter. Vanguard Group Inc. raised its stake in Neuronetics by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,145,310 shares of the company’s stock valued at $3,642,000 after purchasing an additional 11,102 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its stake in Neuronetics by 16.4% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 1,129,430 shares of the company’s stock valued at $2,428,000 after purchasing an additional 159,439 shares during the last quarter. 53.59% of the stock is owned by institutional investors.

Neuronetics Company Profile

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.