Neuronetics (NASDAQ:STIM) CEO Keith Sullivan Sells 40,976 Shares

Neuronetics, Inc. (NASDAQ:STIM) CEO Keith Sullivan sold 40,976 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $1.55, for a total value of $63,512.80. Following the transaction, the chief executive officer directly owned 1,567,012 shares in the company, valued at approximately $2,428,868.60. This trade represents a 2.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Neuronetics Stock Performance

STIM opened at $1.58 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.24 and a debt-to-equity ratio of 2.09. Neuronetics, Inc. has a 12-month low of $1.25 and a 12-month high of $5.92. The business has a 50 day moving average of $1.68 and a 200-day moving average of $2.47. The stock has a market cap of $108.21 million, a price-to-earnings ratio of -1.93 and a beta of 0.79.

Institutional Investors Weigh In On Neuronetics

Hedge funds and other institutional investors have recently modified their holdings of the company. Presidio Capital Management LLC acquired a new position in shares of Neuronetics in the third quarter valued at about $32,000. Intrua Financial LLC acquired a new stake in Neuronetics in the 3rd quarter worth about $33,000. Sherbrooke Park Advisers LLC bought a new stake in Neuronetics in the 3rd quarter valued at about $33,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Neuronetics during the 2nd quarter worth approximately $34,000. Finally, Raymond James Financial Inc. bought a new position in shares of Neuronetics during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

STIM has been the topic of several research reports. Wall Street Zen upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Neuronetics has an average rating of “Hold” and an average target price of $7.00.

About Neuronetics

Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.