Citizens Financial Group Inc. RI Takes $305,000 Position in Neuronetics, Inc. (NASDAQ:STIM)

Key Points

• Citizens Financial Group Inc. has made a significant investment of $305,000, acquiring 83,000 shares of Neuronetics, Inc. (NASDAQ:STIM), representing 0.13% ownership of the company.
• Neuronetics reported a quarterly loss of ($0.15) per share, missing the analyst consensus estimate of ($0.08), despite revenue of $38.11 million surpassing the expectations.
• Analysts at Canaccord Genuity Group have lowered their price target for Neuronetics from $8.00 to $7.00 while maintaining a "buy" rating.

Citizens Financial Group Inc. RI bought a new stake in Neuronetics, Inc. (NASDAQ:STIM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 83,000 shares of the company's stock, valued at approximately $305,000. Citizens Financial Group Inc. RI owned approximately 0.13% of Neuronetics at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in STIM. Assenagon Asset Management S.A. acquired a new position in Neuronetics during the 1st quarter worth approximately $359,000. Kestra Private Wealth Services LLC acquired a new position in Neuronetics during the 1st quarter worth approximately $254,000. Nkcfo LLC acquired a new position in Neuronetics during the 1st quarter worth approximately $460,000. JPMorgan Chase & Co. increased its position 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 purchasing an additional 54,442 shares in the last quarter. Finally, 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 in the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Neuronetics Trading Up 1.9%

Shares of STIM stock traded up $0.08 during trading hours on Wednesday, hitting $3.94. 1,000,614 shares of the company's stock traded hands, compared to its average volume of 1,209,706. The stock's 50 day simple moving average is $3.83 and its 200 day simple moving average is $4.02. The stock has a market cap of $260.20 million, a PE ratio of -3.48 and a beta of 1.78. Neuronetics, Inc. has a 12 month low of $0.52 and a 12 month high of $5.92. The company has a quick ratio of 1.84, a current ratio of 2.02 and a debt-to-equity ratio of 1.76.

Neuronetics (NASDAQ:STIM - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The business had revenue of $38.11 million for the quarter, compared to the consensus estimate of $36.80 million. Neuronetics had a negative net margin of 43.47% and a negative return on equity of 156.36%. On average, sell-side analysts anticipate that Neuronetics, Inc. will post -1.13 EPS for the current 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.