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William Andrew Macan, Executive Vice President and General Counsel at Neuronetics , Inc. (NASDAQ:STIM), recently sold shares of the company’s common stock, as disclosed in a recent filing with the Securities and Exchange Commission. On February 12, Macan disposed of 12,175 shares at a weighted average price of $3.83, totaling approximately $46,630. Following this transaction, Macan retains ownership of 388,647 shares in the medical device company, which currently maintains a FAIR financial health rating according to InvestingPro's comprehensive analysis.
The sales, noted as non-discretionary, were conducted to meet tax obligations associated with the vesting of a restricted stock unit award. The transactions were executed at per-share prices ranging from $3.74 to $3.96, with Macan committed to providing detailed pricing information upon request. While analysts do not expect profitability this year, the company operates with moderate debt levels and maintains strong liquidity, with current assets exceeding short-term obligations. For deeper insights into STIM's financial health and growth prospects, investors can access the detailed Pro Research Report available on InvestingPro.
In other recent news, Neuronetics, a global leader in neuroscience, has initiated a public offering of its common stock. The underwritten public offering includes an option for the underwriter, Canaccord Genuity LLC, to purchase an additional 15% of the shares sold. The completion of the deal depends on market and other conditions, with no certainty regarding the final terms or timeline.
In more developments, Neuronetics recently reported its preliminary unaudited revenue for the fourth quarter and the full year of 2024, with revenues reaching $22.1 million and $74.5 million respectively. The acquisition of Greenbrook TMS, a network of mental health clinics, has been transformative for the company, leading to a pro forma consolidated revenue of $34.7 million for the fourth quarter and $129.8 million for the full year of 2024.
Looking ahead, Neuronetics projects a revenue range of $145.0 million to $155.0 million for fiscal year 2025, marking a 12% to 19% increase on a pro forma basis. The company also anticipates a gross margin of approximately 55% and operating expenses between $90.0 million and $98.0 million. These are recent developments in the company's financial and strategic landscape.
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