Neuronetics (NASDAQ:STIM) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Neuronetics (NASDAQ:STIM) released its quarterly earnings data on Tuesday. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02, FiscalAI reports. Neuronetics had a negative net margin of 33.88% and a negative return on equity of 131.15%. The company had revenue of $41.78 million during the quarter, compared to analysts’ expectations of $40.84 million.

Neuronetics Stock Up 5.0%

STIM stock opened at $1.36 on Tuesday. The company has a current ratio of 2.24, a quick ratio of 2.09 and a debt-to-equity ratio of 2.09. The firm has a 50-day moving average of $1.64 and a two-hundred day moving average of $2.06. Neuronetics has a 12 month low of $1.17 and a 12 month high of $5.34. The company has a market cap of $93.15 million, a price-to-earnings ratio of -1.66 and a beta of 0.87.

Insider Buying and Selling at Neuronetics

In other news, CEO Keith J. Sullivan sold 40,976 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $1.55, for a total value of $63,512.80. Following the completion of the sale, the chief executive officer directly owned 1,567,012 shares in the company, valued at $2,428,868.60. This represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 104,307 shares of company stock worth $164,097. Insiders own 9.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. increased its position in Neuronetics by 80.0% during the fourth quarter. Invesco Ltd. now owns 58,940 shares of the company’s stock worth $81,000 after purchasing an additional 26,194 shares during the last quarter. XTX Topco Ltd boosted its holdings in Neuronetics by 992.6% in the 4th quarter. XTX Topco Ltd now owns 314,194 shares of the company’s stock valued at $434,000 after purchasing an additional 285,438 shares during the last quarter. Caption Management LLC grew its stake in shares of Neuronetics by 571.4% in the 4th quarter. Caption Management LLC now owns 92,501 shares of the company’s stock valued at $128,000 after buying an additional 78,723 shares during the period. Bridgeway Capital Management LLC grew its stake in shares of Neuronetics by 35.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 95,205 shares of the company’s stock valued at $131,000 after buying an additional 25,000 shares during the period. Finally, FourWorld Capital Management LLC increased its holdings in shares of Neuronetics by 64.0% during the 4th quarter. FourWorld Capital Management LLC now owns 931,250 shares of the company’s stock worth $1,285,000 after buying an additional 363,250 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

STIM has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, January 22nd. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.00.

Neuronetics Company Profile

Neuronetics, Inc is a commercial?stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.