Neuronetics (NASDAQ:STIM) Major Shareholder Buys 607,400 Shares

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett acquired 607,400 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was purchased at an average cost of $1.35 per share, with a total value of $819,990.00. Following the purchase, the insider owned 8,123,804 shares of the company’s stock, valued at $10,967,135.40. The trade was a 8.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Thursday, March 19th, Jorey Chernett bought 450,000 shares of Neuronetics stock. The shares were acquired at an average cost of $1.33 per share, for a total transaction of $598,500.00.
• On Tuesday, March 17th, Jorey Chernett purchased 531,000 shares of Neuronetics stock. The stock was acquired at an average price of $1.16 per share, for a total transaction of $615,960.00.

Neuronetics Trading Down 6.0%

Shares of STIM stock traded down $0.09 on Friday, reaching $1.42. 715,464 shares of the company’s stock were exchanged, compared to its average volume of 2,083,779. Neuronetics, Inc. has a 52 week low of $0.80 and a 52 week high of $5.05. The company has a current ratio of 2.02, a quick ratio of 2.09 and a debt-to-equity ratio of 2.51. The stock has a market capitalization of $98.65 million, a PE ratio of -2.40 and a beta of 0.87. The company’s fifty day simple moving average is $1.61 and its 200 day simple moving average is $2.04.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. Neuronetics had a negative return on equity of 121.26% and a negative net margin of 26.15%.The company had revenue of $41.78 million for the quarter, compared to the consensus estimate of $40.84 million. As a group, analysts forecast that Neuronetics, Inc. will post -1.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on STIM shares. Canaccord Genuity Group reduced their price target on shares of Neuronetics from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neuronetics in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Neuronetics from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Neuronetics has a consensus rating of “Hold” and an average price target of $3.00.

Hedge Funds Weigh In On Neuronetics

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

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.