Neuronetics (NASDAQ:STIM) Major Shareholder Purchases $636,500.00 in Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett purchased 475,000 shares of Neuronetics stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $1.34 per share, with a total value of $636,500.00. Following the completion of the transaction, the insider directly owned 10,453,988 shares of the company’s stock, valued at approximately $14,008,343.92. The trade was a 4.76% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, April 20th, Jorey Chernett purchased 100,000 shares of Neuronetics stock. The shares were bought at an average cost of $1.58 per share, for a total transaction of $158,000.00.
• On Friday, March 20th, Jorey Chernett acquired 169,472 shares of Neuronetics stock. The shares were bought at an average price of $1.41 per share, for a total transaction of $238,955.52.
• On Thursday, March 19th, Jorey Chernett acquired 450,000 shares of Neuronetics stock. The stock was bought at an average cost of $1.33 per share, with a total value of $598,500.00.
• On Wednesday, March 18th, Jorey Chernett bought 607,400 shares of Neuronetics stock. The stock was purchased at an average cost of $1.35 per share, with a total value of $819,990.00.
• On Tuesday, March 17th, Jorey Chernett purchased 531,000 shares of Neuronetics stock. The shares were purchased at an average cost of $1.16 per share, for a total transaction of $615,960.00.

Neuronetics Stock Performance

Shares of STIM stock opened at $1.27 on Wednesday. The company has a fifty day moving average price of $1.49 and a two-hundred day moving average price of $1.67. Neuronetics, Inc. has a one year low of $0.80 and a one year high of $4.85. The stock has a market cap of $88.38 million, a P/E ratio of -2.35 and a beta of 1.13. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.67 and a quick ratio of 1.50.

Neuronetics (NASDAQ:STIM) last issued its earnings results on Tuesday, May 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Neuronetics had a negative net margin of 24.48% and a negative return on equity of 139.83%. The company had revenue of $34.45 million for the quarter, compared to analysts’ expectations of $34.17 million. As a group, equities analysts predict that Neuronetics, Inc. will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Neuronetics

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Neuronetics during the second quarter worth approximately $37,000. Presidio Capital Management LLC acquired a new position in Neuronetics in the 3rd quarter valued at $32,000. Intrua Financial LLC acquired a new position in Neuronetics in the 3rd quarter valued at $33,000. Sherbrooke Park Advisers LLC bought a new position in Neuronetics during the 3rd quarter worth $33,000. Finally, Caption Management LLC acquired a new stake in shares of Neuronetics during the third quarter worth $38,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STIM. Canaccord Genuity Group decreased their target price on Neuronetics from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neuronetics in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.00.

Neuronetics Company Profile

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.