Polaris Venture Management Co. V L.L.C. decreased its holdings in shares of Neuronetics Inc (NASDAQ:STIM) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 742,289 shares of the company’s stock after selling 82,476 shares during the quarter. Neuronetics comprises approximately 9.6% of Polaris Venture Management Co. V L.L.C.’s investment portfolio, making the stock its 4th biggest holding. Polaris Venture Management Co. V L.L.C. owned about 4.05% of Neuronetics worth $11,320,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of STIM. Bank of New York Mellon Corp acquired a new position in Neuronetics during the third quarter valued at approximately $468,000. Vanguard Group Inc. grew its holdings in Neuronetics by 1,510.2% during the third quarter. Vanguard Group Inc. now owns 241,533 shares of the company’s stock valued at $7,744,000 after purchasing an additional 226,533 shares during the period. New York State Common Retirement Fund acquired a new position in Neuronetics during the fourth quarter valued at approximately $122,000. BlackRock Inc. grew its holdings in Neuronetics by 49.9% during the fourth quarter. BlackRock Inc. now owns 612,423 shares of the company’s stock valued at $11,851,000 after purchasing an additional 203,983 shares during the period. Finally, Advisor Group Inc. acquired a new position in Neuronetics during the fourth quarter valued at approximately $27,000. Institutional investors own 80.61% of the company’s stock.
Shares of STIM opened at $10.93 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 8.74 and a current ratio of 8.94. Neuronetics Inc has a twelve month low of $8.90 and a twelve month high of $39.39. The firm has a 50 day moving average of $12.53.
Neuronetics (NASDAQ:STIM) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.05). Neuronetics had a negative net margin of 47.21% and a negative return on equity of 1,385.60%. The company had revenue of $12.73 million during the quarter, compared to the consensus estimate of $12.72 million. Analysts anticipate that Neuronetics Inc will post -1.64 earnings per share for the current year.
In other Neuronetics news, VP Peter Donato sold 8,595 shares of Neuronetics stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $14.93, for a total value of $128,323.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher Thatcher sold 15,000 shares of Neuronetics stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $16.82, for a total transaction of $252,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,333 shares of company stock worth $786,186. Insiders own 12.00% of the company’s stock.
A number of brokerages recently issued reports on STIM. ValuEngine cut shares of Neuronetics from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. BTIG Research restated a “buy” rating and set a $25.00 price objective on shares of Neuronetics in a report on Wednesday, March 6th. Finally, Piper Jaffray Companies decreased their price objective on shares of Neuronetics from $35.00 to $28.00 and set an “overweight” rating for the company in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.60.
Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric disorders in the United States, Japan, 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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