Neuronetics, Inc. (NASDAQ:STIM) Director Glenn P. Muir Purchases 12,776 Shares

Neuronetics, Inc. (NASDAQ:STIM) Director Glenn P. Muir bought 12,776 shares of the stock in a transaction dated Wednesday, August 28th. The stock was bought at an average cost of $0.85 per share, for a total transaction of $10,859.60. Following the acquisition, the director now directly owns 252,594 shares of the company’s stock, valued at approximately $214,704.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Neuronetics Stock Up 3.9 %

Shares of NASDAQ STIM opened at $0.88 on Friday. The company has a current ratio of 2.58, a quick ratio of 2.37 and a debt-to-equity ratio of 2.38. Neuronetics, Inc. has a 12-month low of $0.66 and a 12-month high of $5.07. The firm’s 50-day moving average price is $1.57 and its 200-day moving average price is $2.66. The stock has a market capitalization of $26.49 million, a price-to-earnings ratio of -0.92 and a beta of 2.32.

Neuronetics (NASDAQ:STIM) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.06). The company had revenue of $16.45 million during the quarter, compared to the consensus estimate of $18.76 million. Neuronetics had a negative net margin of 45.06% and a negative return on equity of 109.00%. During the same period in the previous year, the business earned ($0.17) earnings per share. On average, equities research analysts anticipate that Neuronetics, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Neuronetics

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Washington CORP grew its position in Neuronetics by 88.8% in the 2nd quarter. First Washington CORP now owns 1,274,540 shares of the company’s stock valued at $2,294,000 after acquiring an additional 599,455 shares during the last quarter. Silvercrest Asset Management Group LLC grew its stake in Neuronetics by 4.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,178,365 shares of the company’s stock worth $5,609,000 after acquiring an additional 51,881 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Neuronetics by 33.4% during the second quarter. First Eagle Investment Management LLC now owns 1,039,009 shares of the company’s stock worth $1,870,000 after acquiring an additional 260,000 shares during the period. Millrace Asset Group Inc. raised its position in Neuronetics by 205.1% during the 4th quarter. Millrace Asset Group Inc. now owns 725,369 shares of the company’s stock valued at $2,104,000 after purchasing an additional 487,591 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Neuronetics by 23.7% during the second quarter. Acadian Asset Management LLC now owns 326,975 shares of the company’s stock valued at $587,000 after buying an additional 62,628 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Wall Street Analyst Weigh In

STIM has been the topic of several research analyst reports. Canaccord Genuity Group decreased their price target on shares of Neuronetics from $6.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. William Blair reiterated a “market perform” rating on shares of Neuronetics in a research report on Monday, August 12th. Finally, JMP Securities reduced their price objective on Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 14th.

Neuronetics Company Profile

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.