Neuronetics (NASDAQ:STIM) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Neuronetics (NASDAQ:STIM) from a hold rating to a sell rating in a report published on Saturday.

STIM has been the topic of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, January 22nd. Canaccord Genuity Group decreased their target price on Neuronetics from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.00.

Neuronetics Price Performance

Shares of STIM stock opened at $1.60 on Friday. The firm has a market cap of $110.84 million, a P/E ratio of -2.71 and a beta of 0.87. The company has a debt-to-equity ratio of 2.51, a current ratio of 2.02 and a quick ratio of 1.87. Neuronetics has a 1-year low of $0.80 and a 1-year high of $5.05. The firm has a fifty day moving average of $1.59 and a two-hundred day moving average of $2.00.

Neuronetics (NASDAQ:STIM) last issued its earnings results on Tuesday, March 17th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Neuronetics had a negative net margin of 26.15% and a negative return on equity of 121.26%. The business had revenue of $41.78 million for the quarter, compared to analyst estimates of $40.84 million. As a group, research analysts anticipate that Neuronetics will post -1.13 earnings per share for the current fiscal year.

Insider Transactions at Neuronetics

In other news, CEO Keith J. Sullivan sold 40,976 shares of Neuronetics stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $1.55, for a total value of $63,512.80. Following the completion of the transaction, the chief executive officer directly owned 1,567,012 shares of the company’s stock, valued at approximately $2,428,868.60. The trade was a 2.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Jorey Chernett acquired 607,400 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were acquired at an average cost of $1.35 per share, with a total value of $819,990.00. Following the transaction, the insider owned 8,123,804 shares in the company, valued at approximately $10,967,135.40. The trade was a 8.08% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 1,757,872 shares of company stock worth $2,273,406 and sold 104,307 shares worth $164,097. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Neuronetics

Several institutional investors have recently made changes to their positions in STIM. David J Yvars Group raised its position in shares of Neuronetics by 22.1% during the 4th quarter. David J Yvars Group now owns 31,230 shares of the company’s stock worth $43,000 after purchasing an additional 5,650 shares during the period. National Bank of Canada FI boosted its position in Neuronetics by 27.5% during the 3rd quarter. National Bank of Canada FI now owns 31,880 shares of the company’s stock valued at $87,000 after purchasing an additional 6,880 shares during the period. Royal Bank of Canada grew its stake in Neuronetics by 17.7% during the 4th quarter. Royal Bank of Canada now owns 47,233 shares of the company’s stock worth $65,000 after buying an additional 7,099 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in Neuronetics in the second quarter worth $34,000. Finally, Barclays PLC increased its position in Neuronetics by 19.2% in the fourth quarter. Barclays PLC now owns 61,606 shares of the company’s stock worth $85,000 after buying an additional 9,941 shares during the period. 53.59% of the stock is owned by institutional investors.

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.