Neuronetics, Inc. (NASDAQ:STIM) Receives Consensus Recommendation of “Buy” from Analysts

Neuronetics, Inc. (NASDAQ:STIMGet Rating) has received a consensus recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $12.00.

A number of brokerages have issued reports on STIM. Piper Sandler lowered their price target on Neuronetics from $10.00 to $9.00 in a research report on Monday, January 3rd. Zacks Investment Research downgraded Neuronetics from a “buy” rating to a “hold” rating in a research report on Saturday, March 12th.

Shares of STIM opened at $2.91 on Friday. Neuronetics has a 52 week low of $2.80 and a 52 week high of $17.92. The company has a quick ratio of 6.93, a current ratio of 7.34 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $77.49 million, a price-to-earnings ratio of -2.42 and a beta of 2.35. The stock’s 50-day moving average price is $3.10 and its 200-day moving average price is $4.02.

Neuronetics (NASDAQ:STIMGet Rating) last issued its earnings results on Tuesday, March 8th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. Neuronetics had a negative return on equity of 33.24% and a negative net margin of 56.39%. During the same period in the prior year, the business earned ($0.19) EPS. As a group, equities analysts anticipate that Neuronetics will post -1.69 EPS for the current fiscal year.

In related 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 value of $30,087.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cannell Capital Llc purchased 33,400 shares of the business’s stock in a transaction that occurred on Wednesday, April 13th. The stock was bought at an average cost of $2.88 per share, with a total value of $96,192.00. Following the acquisition, the insider now owns 3,130,913 shares of the company’s stock, valued at approximately $9,017,029.44. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 144,176 shares of company stock valued at $424,933 and have sold 31,759 shares valued at $103,245. 4.90% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Cannell Capital LLC increased its holdings in shares of Neuronetics by 58.9% in the third quarter. Cannell Capital LLC now owns 2,085,003 shares of the company’s stock valued at $13,678,000 after purchasing an additional 772,665 shares during the last quarter. Archon Capital Management LLC increased its holdings in shares of Neuronetics by 17.7% in the fourth quarter. Archon Capital Management LLC now owns 1,854,415 shares of the company’s stock valued at $8,271,000 after purchasing an additional 279,220 shares during the last quarter. Schroder Investment Management Group increased its stake in Neuronetics by 4.5% during the fourth quarter. Schroder Investment Management Group now owns 1,842,924 shares of the company’s stock worth $8,219,000 after acquiring an additional 79,961 shares during the last quarter. BlackRock Inc. raised its position in Neuronetics by 1.4% in the fourth quarter. BlackRock Inc. now owns 1,594,473 shares of the company’s stock valued at $7,112,000 after purchasing an additional 22,773 shares during the period. Finally, Granahan Investment Management Inc. MA lifted its stake in shares of Neuronetics by 20.6% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 880,203 shares of the company’s stock valued at $5,774,000 after purchasing an additional 150,212 shares during the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

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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