Neuronetics (NASDAQ:STIM) Major Shareholder Buys $44,240.00 in Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett acquired 14,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $3.16 per share, for a total transaction of $44,240.00. Following the acquisition, the insider directly owned 10,602,988 shares in the company, valued at $33,505,442.08. This represents a 0.13% increase in their position. The transaction 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 stock are required to disclose their transactions with the SEC.

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

• On Tuesday, May 19th, Jorey Chernett bought 100,000 shares of Neuronetics stock. The shares were bought at an average cost of $1.17 per share, with a total value of $117,000.00.

Neuronetics Stock Down 0.3%

STIM stock opened at $3.14 on Thursday. The stock has a 50-day simple moving average of $1.87 and a two-hundred day simple moving average of $1.60. Neuronetics, Inc. has a twelve month low of $0.80 and a twelve month high of $3.71. The firm has a market capitalization of $239.27 million, a PE ratio of -7.14 and a beta of 1.03. The company has a quick ratio of 1.69, a current ratio of 1.88 and a debt-to-equity ratio of 2.84.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. Neuronetics had a negative net margin of 19.62% and a negative return on equity of 125.11%. The firm had revenue of $41.57 million for the quarter, compared to the consensus estimate of $40.17 million.

Analysts Set New Price Targets

Several brokerages have commented on STIM. Citigroup reissued a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. BTIG Research upped their price target on shares of Neuronetics from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, June 18th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STIM. Madryn Asset Management LP bought a new stake in Neuronetics during the second quarter valued at approximately $24,102,634,000. UBS Group AG grew its stake in Neuronetics by 580.7% in the 3rd quarter. UBS Group AG now owns 2,164,831 shares of the company’s stock worth $5,910,000 after buying an additional 1,846,801 shares in the last quarter. Lane Generational LLC bought a new position in shares of Neuronetics in the 4th quarter worth $2,353,000. Goldman Sachs Group Inc. increased its holdings in shares of Neuronetics by 2,993.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 630,393 shares of the company’s stock worth $2,320,000 after buying an additional 610,014 shares during the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Neuronetics during the 2nd quarter valued at $776,000. 53.59% of the stock is currently owned by institutional investors.

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.