Zacks: Neurometrix Inc (NURO) Given Average Rating of “Buy” by Brokerages

Neurometrix Inc (NASDAQ:NURO) has earned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Analysts have set a 1-year consensus price objective of $5.00 for the company and are anticipating that the company will post ($0.19) EPS for the current quarter, according to Zacks. Zacks has also assigned Neurometrix an industry rank of 99 out of 256 based on the ratings given to related companies.

Several research firms have commented on NURO. Zacks Investment Research downgraded shares of Neurometrix from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. ValuEngine downgraded shares of Neurometrix from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Neurometrix in a report on Friday, April 26th.

An institutional investor recently raised its position in Neurometrix stock. Renaissance Technologies LLC raised its stake in Neurometrix Inc (NASDAQ:NURO) by 55.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 213,615 shares of the medical device company’s stock after purchasing an additional 75,932 shares during the period. Renaissance Technologies LLC owned 2.90% of Neurometrix worth $284,000 at the end of the most recent quarter. Institutional investors and hedge funds own 12.08% of the company’s stock.

NASDAQ NURO opened at $0.69 on Monday. Neurometrix has a 1 year low of $0.60 and a 1 year high of $1.77. The firm has a market cap of $5.86 million, a price-to-earnings ratio of 4.60 and a beta of 0.55.

Neurometrix (NASDAQ:NURO) last posted its quarterly earnings results on Thursday, April 25th. The medical device company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.30. Neurometrix had a net margin of 6.36% and a return on equity of 11.77%. The firm had revenue of $3.12 million for the quarter, compared to analyst estimates of $3.92 million. On average, equities analysts anticipate that Neurometrix will post -0.35 EPS for the current fiscal year.

Neurometrix Company Profile

NeuroMetrix, Inc, a healthcare company, develops and markets products for the detection, diagnosis, and monitoring of peripheral nerve and spinal cord disorders. The company develops wearable neuro-stimulation therapeutic devices and point-of-care neuropathy diagnostic tests to address chronic health conditions, including chronic pain, sleep disorders, and diabetes.

Featured Article: Do investors pay a separate front-end load every time they buy additional shares?

Get a free copy of the Zacks research report on Neurometrix (NURO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Neurometrix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neurometrix and related companies with MarketBeat.com's FREE daily email newsletter.