Neuronetics (NASDAQ:STIM) Upgraded by ValuEngine to “Buy”

Neuronetics (NASDAQ:STIM) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, ValuEngine reports.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Neuronetics from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. BTIG Research dropped their price objective on shares of Neuronetics to $11.00 and set an “average” rating on the stock in a research note on Wednesday, November 6th.

Neuronetics stock traded up $0.26 during mid-day trading on Tuesday, reaching $4.54. 356,794 shares of the company were exchanged, compared to its average volume of 109,873. The firm’s 50-day simple moving average is $6.46 and its two-hundred day simple moving average is $9.99. Neuronetics has a twelve month low of $3.96 and a twelve month high of $21.25. The firm has a market cap of $80.49 million, a PE ratio of -1.69 and a beta of 0.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.23 and a current ratio of 4.36.

Neuronetics (NASDAQ:STIM) last released its earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.04. Neuronetics had a negative return on equity of 44.10% and a negative net margin of 45.35%. The business had revenue of $16.00 million for the quarter, compared to analyst estimates of $16.13 million. As a group, equities research analysts anticipate that Neuronetics will post -1.63 EPS for the current year.

In other Neuronetics news, Director Stephen M. Campe acquired 9,500 shares of the stock in a transaction on Friday, November 22nd. The shares were bought at an average price of $4.26 per share, with a total value of $40,470.00. Following the acquisition, the director now owns 26,910 shares of the company’s stock, valued at $114,636.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Thatcher sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $10.74, for a total value of $214,800.00. Over the last quarter, insiders have bought 67,459 shares of company stock worth $297,135. Company insiders own 12.00% of the company’s stock.

Several hedge funds have recently modified their holdings of STIM. Millennium Management LLC lifted its holdings in shares of Neuronetics by 24.8% in the 3rd quarter. Millennium Management LLC now owns 35,808 shares of the company’s stock valued at $297,000 after buying an additional 7,124 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Neuronetics in the third quarter valued at approximately $172,000. Tower Research Capital LLC TRC acquired a new position in Neuronetics during the third quarter worth $57,000. Morgan Stanley grew its holdings in Neuronetics by 5,765.4% during the second quarter. Morgan Stanley now owns 110,681 shares of the company’s stock worth $1,385,000 after acquiring an additional 108,794 shares during the period. Finally, Novo Holdings A S raised its position in Neuronetics by 11.0% in the second quarter. Novo Holdings A S now owns 582,798 shares of the company’s stock worth $7,291,000 after acquiring an additional 57,798 shares in the last quarter. 80.75% of the stock is owned by institutional investors and hedge funds.

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, Japan, 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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