Neuronetics (NASDAQ:STIM) Announces Earnings Results, Misses Expectations By $0.01 EPS

Neuronetics (NASDAQ:STIMGet Rating) posted its quarterly earnings results on Thursday. The company reported ($0.41) 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 quarter in the previous year, the business posted ($0.31) earnings per share. Neuronetics updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

Neuronetics stock opened at $2.57 on Friday. Neuronetics has a 52-week low of $1.98 and a 52-week high of $17.92. The firm has a fifty day moving average of $2.90 and a 200-day moving average of $3.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 7.34 and a quick ratio of 6.93.

In other news, major shareholder Cannell Capital Llc purchased 106,455 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was acquired at an average cost of $2.13 per share, with a total value of $226,749.15. Following the acquisition, the insider now owns 3,329,150 shares in the company, valued at $7,091,089.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Stephen Furlong sold 10,029 shares of the firm’s stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $3.00, for a total transaction of $30,087.00. The disclosure for this sale can be found here. Insiders bought 296,413 shares of company stock valued at $764,319 in the last three months. Company insiders own 5.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STIM. Nantahala Capital Management LLC acquired a new stake in Neuronetics during the 1st quarter valued at $2,667,000. Norges Bank acquired a new position in Neuronetics during the 4th quarter worth $1,174,000. Renaissance Technologies LLC acquired a new position in Neuronetics during the 1st quarter worth $564,000. Geode Capital Management LLC grew its holdings in Neuronetics by 31.3% during the 4th quarter. Geode Capital Management LLC now owns 396,256 shares of the company’s stock worth $1,767,000 after acquiring an additional 94,363 shares in the last quarter. Finally, Morgan Stanley grew its holdings in Neuronetics by 161.0% during the 3rd quarter. Morgan Stanley now owns 143,962 shares of the company’s stock worth $944,000 after acquiring an additional 88,810 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

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

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Earnings History for Neuronetics (NASDAQ:STIM)

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