Neuronetics (NASDAQ:STIM) Given Market Perform Rating at William Blair

William Blair reaffirmed their market perform rating on shares of Neuronetics (NASDAQ:STIMFree Report) in a research note published on Tuesday morning, RTT News reports.

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

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Neuronetics Stock Up 1.1 %

Shares of NASDAQ STIM opened at $4.76 on Tuesday. 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 current ratio of 4.73 and a quick ratio of 4.33. The business’s fifty day moving average price is $3.57 and its 200-day moving average price is $2.38. The stock has a market capitalization of $141.66 million, a PE ratio of -4.45 and a beta of 2.38.

Neuronetics (NASDAQ:STIMGet Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $19.73 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. On average, equities research analysts anticipate that Neuronetics will post -0.92 EPS for the current year.

Insider Activity at Neuronetics

In related news, CEO Keith J. Sullivan sold 23,958 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $2.96, for a total transaction of $70,915.68. Following the sale, the chief executive officer now directly owns 1,434,171 shares in the company, valued at approximately $4,245,146.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Keith J. Sullivan sold 23,958 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $2.96, for a total transaction of $70,915.68. Following the sale, the chief executive officer now directly owns 1,434,171 shares in the company, valued at approximately $4,245,146.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP William Andrew Macan sold 15,621 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $3.38, for a total value of $52,798.98. Following the sale, the executive vice president now owns 417,736 shares in the company, valued at $1,411,947.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 160,292 shares of company stock worth $519,307. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neuronetics

A number of institutional investors have recently added to or reduced their stakes in the business. Wolverine Trading LLC bought a new position in Neuronetics in the 4th quarter worth about $32,000. G2 Investment Partners Management LLC bought a new position in Neuronetics in the 4th quarter worth about $213,000. Balyasny Asset Management L.P. increased its stake in Neuronetics by 1.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,417,722 shares of the company’s stock worth $4,111,000 after acquiring an additional 21,239 shares during the last quarter. Millrace Asset Group Inc. increased its stake in Neuronetics by 205.1% in the 4th quarter. Millrace Asset Group Inc. now owns 725,369 shares of the company’s stock worth $2,104,000 after acquiring an additional 487,591 shares during the last quarter. Finally, Worth Venture Partners LLC bought a new position in Neuronetics in the 4th quarter worth about $30,000. 53.59% of the stock is currently owned by institutional investors.

About Neuronetics

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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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