Informed Momentum Co LLC Buys New Holdings in Neuronetics, Inc. $STIM

Key Points

• Informed Momentum Co LLC acquired 104,597 shares of Neuronetics, Inc, valued at approximately $385,000, representing about 0.16% of the company at the end of the recent quarter.
• Wall Street analysts are forecasting a decline in Neuronetics' stock, with Canaccord Genuity Group reducing their target price from $8.00 to $7.00 while maintaining a "buy" rating.
• Neuronetics reported a quarterly revenue of $38.11 million but missed EPS estimates, leading to a negative return on equity of 156.36%.

Informed Momentum Co LLC bought a new stake in Neuronetics, Inc. (NASDAQ:STIM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 104,597 shares of the company's stock, valued at approximately $385,000. Informed Momentum Co LLC owned 0.16% of Neuronetics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STIM. JPMorgan Chase & Co. lifted its holdings in Neuronetics by 10,954.1% during the 4th quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company's stock worth $88,000 after buying an additional 54,442 shares during the last quarter. Geode Capital Management LLC increased its stake in Neuronetics by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 314,076 shares of the company's stock valued at $506,000 after buying an additional 8,466 shares during the period. XTX Topco Ltd acquired a new position in Neuronetics in the 4th quarter valued at $49,000. Balyasny Asset Management L.P. increased its position in Neuronetics by 29.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,481,771 shares of the company's stock worth $2,386,000 after purchasing an additional 337,539 shares during the period. Finally, Wealthedge Investment Advisors LLC acquired a new position in Neuronetics during the 4th quarter worth approximately $57,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lowered their price target on Neuronetics from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th.

Neuronetics Price Performance

NASDAQ:STIM traded up $0.18 during trading hours on Monday, reaching $3.52. 518,424 shares of the company traded hands, compared to its average volume of 1,208,717. The firm's 50-day moving average is $3.81 and its 200-day moving average is $4.04. The stock has a market cap of $232.41 million, a P/E ratio of -3.12 and a beta of 1.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.02 and a quick ratio of 1.84. Neuronetics, Inc. has a 1-year low of $0.52 and a 1-year high of $5.92.

Neuronetics (NASDAQ:STIM - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.07). Neuronetics had a negative net margin of 43.47% and a negative return on equity of 156.36%. The company had revenue of $38.11 million for the quarter, compared to analyst estimates of $36.80 million. Equities research analysts expect that Neuronetics, Inc. will post -1.13 earnings per share for the current fiscal year.

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.