Neuronetics, Inc. (NASDAQ:STIM) Expected to Announce Earnings of -$0.24 Per Share

Analysts forecast that Neuronetics, Inc. (NASDAQ:STIM) will announce earnings per share (EPS) of ($0.24) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Neuronetics’ earnings, with estimates ranging from ($0.24) to ($0.23). Neuronetics reported earnings of ($0.41) per share in the same quarter last year, which indicates a positive year over year growth rate of 41.5%. The business is expected to issue its next quarterly earnings report on Tuesday, August 3rd.

According to Zacks, analysts expect that Neuronetics will report full year earnings of ($0.91) per share for the current fiscal year, with EPS estimates ranging from ($0.91) to ($0.90). For the next financial year, analysts anticipate that the firm will post earnings of ($0.70) per share, with EPS estimates ranging from ($0.71) to ($0.68). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Neuronetics.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings results on Tuesday, May 4th. The company reported ($0.31) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.31). Neuronetics had a negative return on equity of 88.76% and a negative net margin of 61.44%.

STIM has been the topic of several analyst reports. Piper Sandler reduced their price objective on Neuronetics from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 2nd. JMP Securities raised their price target on Neuronetics from $15.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, January 27th. BTIG Research raised their price target on Neuronetics from $14.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, January 21st. Zacks Investment Research upgraded Neuronetics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 26th. Finally, William Blair upgraded Neuronetics from a “market perform” rating to an “outperform” rating in a research note on Friday, January 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $22.50.

In related news, CFO Stephen Furlong sold 6,521 shares of Neuronetics stock in a transaction that occurred on Tuesday, March 9th. The stock was sold at an average price of $14.64, for a total transaction of $95,467.44. Following the completion of the transaction, the chief financial officer now directly owns 289,971 shares in the company, valued at approximately $4,245,175.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory Harper sold 5,524 shares of Neuronetics stock in a transaction that occurred on Tuesday, March 9th. The stock was sold at an average price of $14.65, for a total value of $80,926.60. Following the transaction, the vice president now owns 162,554 shares of the company’s stock, valued at $2,381,416.10. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Thompson Siegel & Walmsley LLC purchased a new stake in Neuronetics in the 1st quarter worth approximately $73,000. Wells Fargo & Company MN grew its stake in shares of Neuronetics by 14.9% during the 4th quarter. Wells Fargo & Company MN now owns 9,295 shares of the company’s stock valued at $103,000 after buying an additional 1,206 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Neuronetics during the 1st quarter valued at $134,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Neuronetics during the 1st quarter valued at $158,000. Finally, One68 Global Capital LLC purchased a new stake in shares of Neuronetics during the 4th quarter valued at $142,000. 63.80% of the stock is owned by hedge funds and other institutional investors.

Shares of Neuronetics stock opened at $12.97 on Tuesday. The stock has a 50 day moving average of $12.20 and a 200 day moving average of $12.24. Neuronetics has a fifty-two week low of $1.70 and a fifty-two week high of $22.43. The firm has a market capitalization of $334.11 million, a price-to-earnings ratio of -7.72 and a beta of 3.05.

About Neuronetics

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric 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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Earnings History and Estimates for Neuronetics (NASDAQ:STIM)

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