Wasatch Advisors Inc. boosted its position in Neuronetics Inc (NASDAQ:STIM) by 23.5% in the first quarter, HoldingsChannel.com reports. The firm owned 313,954 shares of the company’s stock after purchasing an additional 59,740 shares during the quarter. Wasatch Advisors Inc.’s holdings in Neuronetics were worth $4,788,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its position in Neuronetics by 1,510.2% in the third quarter. Vanguard Group Inc now owns 241,533 shares of the company’s stock worth $7,744,000 after purchasing an additional 226,533 shares during the period. Vanguard Group Inc. lifted its position in Neuronetics by 1,510.2% in the third quarter. Vanguard Group Inc. now owns 241,533 shares of the company’s stock worth $7,744,000 after purchasing an additional 226,533 shares during the period. Teachers Advisors LLC acquired a new stake in Neuronetics in the third quarter worth approximately $267,000. GSA Capital Partners LLP acquired a new stake in Neuronetics in the fourth quarter worth approximately $226,000. Finally, Partner Fund Management L.P. acquired a new stake in Neuronetics in the fourth quarter worth approximately $444,000. Hedge funds and other institutional investors own 72.57% of the company’s stock.
Shares of NASDAQ:STIM traded down $0.95 on Friday, reaching $13.09. 216,357 shares of the company traded hands, compared to its average volume of 110,649. Neuronetics Inc has a fifty-two week low of $13.26 and a fifty-two week high of $39.39. The company has a market capitalization of $239.65 million and a PE ratio of -4.87. The company has a debt-to-equity ratio of 0.52, a quick ratio of 8.74 and a current ratio of 8.94.
Neuronetics (NASDAQ:STIM) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.05). Neuronetics had a negative net margin of 47.21% and a negative return on equity of 1,385.60%. The company had revenue of $12.73 million for the quarter, compared to analyst estimates of $12.72 million. As a group, research analysts forecast that Neuronetics Inc will post -1.64 EPS for the current fiscal year.
In other Neuronetics news, insider Christopher Thatcher sold 15,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $16.82, for a total transaction of $252,300.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Peter Donato sold 26,238 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $16.15, for a total transaction of $423,743.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,571 shares of company stock worth $1,209,929. Company insiders own 12.00% of the company’s stock.
A number of brokerages have recently commented on STIM. Zacks Investment Research upgraded Neuronetics from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Piper Jaffray Companies cut their price objective on Neuronetics from $35.00 to $28.00 and set an “overweight” rating for the company in a research report on Tuesday, March 5th. Finally, BTIG Research reiterated a “buy” rating and set a $25.00 price objective on shares of Neuronetics in a research report on Wednesday, March 6th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Neuronetics has a consensus rating of “Buy” and an average price target of $31.60.
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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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