Equities analysts predict that Neuronetics, Inc. (NASDAQ:STIM) will report sales of $15.21 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Neuronetics’ earnings. The lowest sales estimate is $15.11 million and the highest is $15.30 million. Neuronetics reported sales of $17.36 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 12.4%. The company is expected to announce its next quarterly earnings report before the market opens on Tuesday, March 2nd.
On average, analysts expect that Neuronetics will report full-year sales of $48.84 million for the current year, with estimates ranging from $48.78 million to $48.90 million. For the next financial year, analysts forecast that the firm will post sales of $62.15 million, with estimates ranging from $62.10 million to $62.20 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Neuronetics.
A number of equities analysts have weighed in on the stock. BTIG Research upped their price objective on shares of Neuronetics from $14.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, January 21st. Canaccord Genuity restated a “buy” rating and set a $8.00 price objective on shares of Neuronetics in a research report on Tuesday, November 3rd. Zacks Investment Research upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a research report on Tuesday, January 26th. William Blair upgraded shares of Neuronetics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 22nd. Finally, JMP Securities upped their price objective on shares of Neuronetics from $15.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $16.40.
Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in Neuronetics by 14.9% during the fourth quarter. Wells Fargo & Company MN now owns 9,295 shares of the company’s stock worth $103,000 after purchasing an additional 1,206 shares during the last quarter. LPL Financial LLC acquired a new stake in Neuronetics during the third quarter worth about $55,000. One68 Global Capital LLC acquired a new stake in Neuronetics during the fourth quarter worth about $142,000. Citigroup Inc. increased its position in Neuronetics by 12,625.7% during the fourth quarter. Citigroup Inc. now owns 12,853 shares of the company’s stock worth $143,000 after purchasing an additional 12,752 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Neuronetics by 137.7% during the second quarter. Bank of America Corp DE now owns 13,494 shares of the company’s stock worth $26,000 after purchasing an additional 7,818 shares during the last quarter. Hedge funds and other institutional investors own 63.80% of the company’s stock.
NASDAQ:STIM traded up $0.74 during trading hours on Friday, reaching $17.63. 285,138 shares of the company were exchanged, compared to its average volume of 624,540. The stock’s 50-day moving average is $15.97 and its 200-day moving average is $8.76. The firm has a market cap of $334.53 million, a PE ratio of -10.49 and a beta of 3.05. Neuronetics has a twelve month low of $1.25 and a twelve month high of $22.43.
Neuronetics Company Profile
Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric 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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