Schroder Investment Management Group Acquires New Holdings in Neuronetics Inc (STIM)

Schroder Investment Management Group acquired a new position in Neuronetics Inc (NASDAQ:STIM) in the second quarter, HoldingsChannel reports. The institutional investor acquired 164,369 shares of the company’s stock, valued at approximately $4,374,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Polaris Venture Management Co. V L.L.C. bought a new position in Neuronetics in the second quarter worth $21,947,000. FMR LLC bought a new position in Neuronetics in the second quarter worth $10,169,000. Jennison Associates LLC bought a new position in Neuronetics in the second quarter worth $8,642,000. Redmile Group LLC bought a new position in Neuronetics in the second quarter worth $7,983,000. Finally, Wells Fargo & Company MN bought a new position in Neuronetics in the second quarter worth $7,734,000. Institutional investors and hedge funds own 62.32% of the company’s stock.

Shares of NASDAQ:STIM opened at $24.86 on Friday. Neuronetics Inc has a 1-year low of $20.70 and a 1-year high of $39.39. The company has a debt-to-equity ratio of -0.13, a quick ratio of 1.59 and a current ratio of 1.75.

Neuronetics (NASDAQ:STIM) last issued its quarterly earnings results on Tuesday, August 14th. The company reported ($30.60) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($29.76). The firm had revenue of $13.25 million during the quarter, compared to analysts’ expectations of $12.20 million. As a group, analysts expect that Neuronetics Inc will post -2.05 EPS for the current year.

Several brokerages have recently weighed in on STIM. Canaccord Genuity raised their price target on Neuronetics from $33.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. BTIG Research restated a “buy” rating and set a $33.00 price target on shares of Neuronetics in a report on Thursday, August 16th. Piper Jaffray Companies began coverage on Neuronetics in a report on Monday, July 23rd. They set an “overweight” rating for the company. JMP Securities began coverage on Neuronetics in a report on Monday, July 23rd. They set a “$26.02” rating and a $36.00 price target for the company. Finally, William Blair began coverage on Neuronetics in a report on Monday, July 23rd. They set an “outperform” rating for the company. Five analysts have rated the stock with a buy rating, Neuronetics has a consensus rating of “Buy” and an average target price of $36.33.

Neuronetics Profile

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric disorders. It offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment for adult patients with major depressive disorder. The company's NeuroStar Advanced Therapy System uses transcranial magnetic stimulation to create a pulsed MRI-strength magnetic field, which induces electrical currents designed to stimulate specific areas of the brain associated with mood.

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Institutional Ownership by Quarter for Neuronetics (NASDAQ:STIM)

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