Neuronetics (NASDAQ:STIM) Major Shareholder Buys $117,000.00 in Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $1.17 per share, with a total value of $117,000.00. Following the completion of the acquisition, the insider directly owned 10,553,988 shares in the company, valued at approximately $12,348,165.96. This represents a 0.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large 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 Tuesday, May 12th, Jorey Chernett acquired 475,000 shares of Neuronetics stock. The stock was acquired at an average cost of $1.34 per share, for a total transaction of $636,500.00.
• On Monday, April 20th, Jorey Chernett bought 100,000 shares of Neuronetics stock. The stock was acquired at an average price of $1.58 per share, with a total value of $158,000.00.
• On Friday, March 20th, Jorey Chernett purchased 169,472 shares of Neuronetics stock. The stock was acquired at an average cost of $1.41 per share, with a total value of $238,955.52.
• On Thursday, March 19th, Jorey Chernett acquired 450,000 shares of Neuronetics stock. The shares were bought at an average cost of $1.33 per share, for a total transaction of $598,500.00.
• On Wednesday, March 18th, Jorey Chernett acquired 607,400 shares of Neuronetics stock. The stock was bought at an average price of $1.35 per share, with a total value of $819,990.00.
• On Tuesday, March 17th, Jorey Chernett bought 531,000 shares of Neuronetics stock. The shares were bought at an average price of $1.16 per share, for a total transaction of $615,960.00.

Neuronetics Price Performance

STIM opened at $1.20 on Friday. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.67 and a quick ratio of 1.50. The stock has a market capitalization of $83.51 million, a P/E ratio of -2.22 and a beta of 1.13. The company’s 50 day simple moving average is $1.48 and its 200-day simple moving average is $1.58. Neuronetics, Inc. has a one year low of $0.80 and a one year high of $4.85.

Neuronetics (NASDAQ:STIM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.01. Neuronetics had a negative return on equity of 139.83% and a negative net margin of 24.48%.The firm had revenue of $34.45 million for the quarter, compared to the consensus estimate of $34.17 million. Sell-side analysts anticipate that Neuronetics, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Presidio Capital Management LLC bought a new stake in shares of Neuronetics in the third quarter worth about $32,000. Intrua Financial LLC bought a new stake in Neuronetics during the 3rd quarter worth approximately $33,000. Sherbrooke Park Advisers LLC acquired a new stake in Neuronetics during the 3rd quarter worth approximately $33,000. Raymond James Financial Inc. bought a new position in Neuronetics in the second quarter valued at approximately $37,000. Finally, Caption Management LLC acquired a new position in shares of Neuronetics in the third quarter valued at approximately $38,000. 53.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group dropped their price target on shares of Neuronetics from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Wall Street Zen upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Neuronetics presently has an average rating of “Hold” and a consensus target price 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.