Neuronetics (STIM) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Neuronetics (NASDAQ:STIM) from a hold rating to a sell rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Neuronetics, Inc. is a commercial-stage medical device company. It focused on designing, developing, and marketing products for patients who suffer from psychiatric disorders. NeuroStar Advanced Therapy System(R), is the transcranial magnetic stimulation treatment for depressive disorder. Neuronetics, Inc. is based in Malvern, United States. “

A number of other research firms have also recently commented on STIM. BTIG Research reiterated a buy rating and set a $25.00 price target on shares of Neuronetics in a report on Wednesday, March 6th. Piper Jaffray Companies reduced their price target on Neuronetics from $35.00 to $28.00 and set an overweight rating for the company in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Neuronetics currently has an average rating of Buy and an average target price of $31.60.

Neuronetics stock opened at $16.17 on Friday. Neuronetics has a 52 week low of $13.26 and a 52 week high of $39.39. The company has a debt-to-equity ratio of 0.43, a current ratio of 8.44 and a quick ratio of 8.26. The stock has a market cap of $304.18 million and a P/E ratio of -6.01.

Neuronetics (NASDAQ:STIM) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.01. The business had revenue of $15.64 million for the quarter, compared to the consensus estimate of $14.71 million. As a group, sell-side analysts predict that Neuronetics will post -1.63 EPS for the current year.

In related news, VP Peter Donato sold 26,238 shares of Neuronetics stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $16.15, for a total transaction of $423,743.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Thatcher sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $16.82, for a total value of $252,300.00. The disclosure for this sale can be found here.

Large investors have recently modified their holdings of the company. Vanguard Group Inc boosted its holdings in shares of Neuronetics by 1,510.2% during the third quarter. Vanguard Group Inc now owns 241,533 shares of the company’s stock worth $7,744,000 after acquiring an additional 226,533 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Neuronetics by 1,510.2% during the third quarter. Vanguard Group Inc. now owns 241,533 shares of the company’s stock worth $7,744,000 after acquiring an additional 226,533 shares during the period. Teachers Advisors LLC bought a new stake in shares of Neuronetics during the third quarter worth approximately $267,000. Capital Research Global Investors boosted its holdings in shares of Neuronetics by 26.6% during the third quarter. Capital Research Global Investors now owns 474,644 shares of the company’s stock worth $15,217,000 after acquiring an additional 99,644 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Neuronetics during the fourth quarter worth approximately $226,000. Institutional investors own 68.71% of the company’s stock.

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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