Neuronetics (NASDAQ:STIM) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Neuronetics (NASDAQ:STIMGet Rating) released its quarterly earnings data on Thursday. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.01), MarketWatch Earnings reports. Neuronetics had a negative net margin of 56.39% and a negative return on equity of 33.24%. During the same period in the prior year, the firm earned ($0.31) earnings per share. Neuronetics updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

Shares of Neuronetics stock traded up $0.31 during trading on Friday, reaching $2.57. 487,389 shares of the stock traded hands, compared to its average volume of 258,965. The company has a market capitalization of $68.43 million, a price-to-earnings ratio of -2.13 and a beta of 2.31. The business has a fifty day simple moving average of $2.92 and a two-hundred day simple moving average of $3.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 7.34 and a quick ratio of 6.93. Neuronetics has a 52-week low of $1.98 and a 52-week high of $17.92.

In related news, major shareholder Cannell Capital Llc purchased 106,455 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was bought at an average price of $2.13 per share, for a total transaction of $226,749.15. Following the completion of the transaction, the insider now owns 3,329,150 shares in the company, valued at approximately $7,091,089.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen Furlong sold 10,029 shares of Neuronetics stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $3.00, for a total value of $30,087.00. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 296,413 shares of company stock valued at $764,319. Company insiders own 5.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Gabelli Funds LLC lifted its stake in Neuronetics by 3.3% in the first quarter. Gabelli Funds LLC now owns 254,077 shares of the company’s stock worth $770,000 after purchasing an additional 8,200 shares during the last quarter. Millennium Management LLC raised its stake in shares of Neuronetics by 62.8% during the third quarter. Millennium Management LLC now owns 103,357 shares of the company’s stock valued at $678,000 after acquiring an additional 39,875 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Neuronetics by 12.2% during the first quarter. Blair William & Co. IL now owns 193,723 shares of the company’s stock valued at $587,000 after acquiring an additional 21,137 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Neuronetics by 40.7% during the third quarter. Royal Bank of Canada now owns 60,360 shares of the company’s stock valued at $396,000 after acquiring an additional 17,451 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Neuronetics by 131.7% during the first quarter. Envestnet Asset Management Inc. now owns 80,811 shares of the company’s stock valued at $245,000 after acquiring an additional 45,928 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research cut Neuronetics from a “buy” rating to a “hold” rating in a report on Saturday, March 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $10.06.

About Neuronetics (Get Rating)

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.

Further Reading

Earnings History for Neuronetics (NASDAQ:STIM)

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