Neuronetics (NASDAQ:STIM) Posts Earnings Results, Misses Expectations By $0.06 EPS

Neuronetics (NASDAQ:STIM) issued its quarterly earnings data on Monday. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06), Zacks reports. Neuronetics had a negative return on equity of 75.84% and a negative net margin of 37.61%. The business had revenue of $16.45 million during the quarter, compared to the consensus estimate of $18.76 million. During the same quarter in the prior year, the business posted ($0.17) earnings per share. Neuronetics updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Neuronetics Stock Performance

NASDAQ:STIM traded up $0.07 during mid-day trading on Wednesday, hitting $0.81. 574,016 shares of the company traded hands, compared to its average volume of 223,405. The stock’s fifty day moving average price is $1.83 and its 200-day moving average price is $2.88. Neuronetics has a one year low of $0.66 and a one year high of $5.07. The company has a quick ratio of 5.18, a current ratio of 5.65 and a debt-to-equity ratio of 2.15. The firm has a market cap of $24.37 million, a price-to-earnings ratio of -0.84 and a beta of 2.32.

Analyst Ratings Changes

Several equities research analysts recently weighed in on STIM shares. JMP Securities dropped their price target on Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a research report on Wednesday. William Blair restated a “market perform” rating on shares of Neuronetics in a research report on Monday. Finally, Canaccord Genuity Group lowered their price objective on Neuronetics from $6.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday.

Insider Buying and Selling at Neuronetics

In related news, Director Robert Cascella purchased 50,000 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was acquired at an average price of $2.05 per share, with a total value of $102,500.00. Following the completion of the acquisition, the director now owns 244,098 shares of the company’s stock, valued at approximately $500,400.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Neuronetics news, Director Robert Cascella acquired 50,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was purchased at an average price of $2.05 per share, with a total value of $102,500.00. Following the completion of the purchase, the director now directly owns 244,098 shares in the company, valued at approximately $500,400.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Keith J. Sullivan sold 24,162 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $1.90, for a total value of $45,907.80. Following the completion of the sale, the chief executive officer now owns 1,324,354 shares in the company, valued at $2,516,272.60. The disclosure for this sale can be found here. 9.80% of the stock is currently owned by corporate insiders.

About Neuronetics

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.