104,597 Shares in Neuronetics, Inc. (NASDAQ:STIM) Purchased by Informed Momentum Co LLC

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 acquired a new position in shares of Neuronetics, Inc. (NASDAQ:STIM - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 104,597 shares of the company's stock, valued at approximately $385,000. Informed Momentum Co LLC owned about 0.16% of Neuronetics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Balyasny Asset Management L.P. grew its position in Neuronetics by 29.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,481,771 shares of the company's stock valued at $2,386,000 after acquiring an additional 337,539 shares in the last quarter. CenterBook Partners LP acquired a new position in Neuronetics in the 1st quarter valued at about $1,200,000. Nkcfo LLC acquired a new position in Neuronetics in the 1st quarter valued at about $460,000. Assenagon Asset Management S.A. acquired a new position in Neuronetics in the 1st quarter valued at about $359,000. Finally, Citizens Financial Group Inc. RI acquired a new position in Neuronetics in the 1st quarter valued at about $305,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Neuronetics Stock Performance

Shares of Neuronetics stock opened at $3.87 on Thursday. Neuronetics, Inc. has a one year low of $0.52 and a one year high of $5.92. The company has a market cap of $255.88 million, a PE ratio of -3.42 and a beta of 1.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.84 and a current ratio of 2.02. The business has a 50-day simple moving average of $3.83 and a 200-day simple moving average of $4.02.

Neuronetics (NASDAQ:STIM - Get Free Report) last announced its quarterly earnings data 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 return on equity of 156.36% and a negative net margin of 43.47%. The company had revenue of $38.11 million for the quarter, compared to analyst estimates of $36.80 million. On average, equities research analysts forecast that Neuronetics, Inc. will post -1.13 EPS for the current fiscal year.

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.

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