• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Neuronetics rises on Street-beating Q2

Neuronetics rises on Street-beating Q2

August 4, 2020 By Sean Whooley

neuronetics-logoNeuronetics (NSDQ:STIM) shares ticked up today on second-quarter losses that managed to top the consensus forecast.

The Malvern, Pa.-based psychiatric disorder treatment developer posted losses of $-7.8 million, or -41¢ per share, on sales of $9.7 million for the three months ended June 30, 2020, for a -9.5% bottom-line slide on a sales decline of -41.2%.

Adjusted to exclude one-time items, losses per share were also -41¢, 10¢ ahead of Wall Street, where analysts were looking for sales of $8.2 million.

Neuronetics, which develops a transcranial magnetic stimulation system to treat major depressive disorder, reported that its revenue decreases were primarily driven by the closure of practices or limited access in response to the COVID-19 pandemic.

“This quarter was negatively impacted due to the effects of COVID-19; however, our results were favorable to our internal expectations established at the beginning of the quarter,” Neuronetics CFO Steve Furlong said in a news release. “The company experienced positive commercial trends during the second half of the quarter, and we are anticipating these trends will continue through the remainder of the year.

“Further, the cost reduction efforts announced in April will enable Neuronetics to execute against our operating plan and maintain our robust cash balance.”

Despite uncertainties brought on by the pandemic, Neuronetics is still issuing guidance, with the projection in the range of $58 million to $60 million, having previously been set at $76 million to $78 million.

STIM shares were up 10.9% at $3.01 per share in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down -0.5%.

Filed Under: Business/Financial News, MassDevice Earnings Roundup, Neurological, Neuromodulation/Neurostimulation, Wall Street Beat Tagged With: coronavirus, COVID-19, Neuronetics

More recent news

  • Autonomix picks up key nerve ablation catheter patent
  • Affluent Medical can move to pivotal phase of artificial urinary sphincter study
  • Globus Medical announces $500M share repurchase program
  • Cook Medical warns of issue with angiographic catheter
  • Virtuoso Surgical reports first cases with robotic endoscopy system, plans FDA IDE submission

About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at [email protected].

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy