HighTower Advisors LLC Sells 88,900 Shares of Neuronetics, Inc. $STIM

Key Points

• HighTower Advisors LLC reduced its holdings in Neuronetics, Inc. by 36.3%, owning approximately 0.24% of the company after selling 88,900 shares.
• Canaccord Genuity Group lowered the target price for Neuronetics from $8.00 to $7.00, but maintains a "buy" rating for the stock.
• Neuronetics reported a revenue of $38.11 million for the quarter, exceeding analysts' expectations of $36.80 million, despite missing earnings per share estimates.

HighTower Advisors LLC decreased its holdings in shares of Neuronetics, Inc. (NASDAQ:STIM - Free Report) by 36.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,982 shares of the company's stock after selling 88,900 shares during the quarter. HighTower Advisors LLC owned about 0.24% of Neuronetics worth $574,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in shares of Neuronetics during the 1st quarter worth approximately $359,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Neuronetics during the 1st quarter worth approximately $254,000. Nkcfo LLC acquired a new stake in shares of Neuronetics during the 1st quarter worth approximately $460,000. CenterBook Partners LP acquired a new stake in shares of Neuronetics during the 1st quarter worth approximately $1,200,000. Finally, JPMorgan Chase & Co. grew its holdings in Neuronetics by 10,954.1% during the fourth quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company's stock valued at $88,000 after purchasing an additional 54,442 shares during the period. Institutional investors and hedge funds own 53.59% of the company's stock.

Neuronetics Stock Down 3.2%

Shares of Neuronetics stock traded down $0.11 on Monday, hitting $3.33. The company had a trading volume of 1,471,072 shares, compared to its average volume of 1,667,762. The firm has a market capitalization of $220.18 million, a P/E ratio of -2.95 and a beta of 1.28. Neuronetics, Inc. has a twelve month low of $0.52 and a twelve month high of $5.92. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.02 and a quick ratio of 1.84. The stock has a 50-day moving average of $3.76 and a 200-day moving average of $4.02.

Neuronetics (NASDAQ:STIM - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The company had revenue of $38.11 million during the quarter, compared to analyst estimates of $36.80 million. Neuronetics had a negative net margin of 43.47% and a negative return on equity of 156.36%. Neuronetics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts predict that Neuronetics, Inc. will post -1.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group decreased their price objective on shares of Neuronetics from $8.00 to $7.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $7.00.

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.