Neuronetics (NASDAQ:STIM) Major Shareholder Jorey Chernett Purchases 18,000 Shares of Company Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett acquired 18,000 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were acquired at an average cost of $2.27 per share, for a total transaction of $40,860.00. Following the acquisition, the insider directly owned 10,620,988 shares of the company’s stock, valued at $24,109,642.76. This trade represents a 0.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 14th, Jorey Chernett purchased 14,000 shares of Neuronetics stock. The stock was acquired at an average price of $3.16 per share, for a total transaction of $44,240.00.

Neuronetics Price Performance

Shares of STIM traded up $0.06 during trading hours on Monday, reaching $2.31. 48,871 shares of the company traded hands, compared to its average volume of 1,976,521. Neuronetics, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $3.44. The stock has a market capitalization of $175.63 million, a PE ratio of -5.24 and a beta of 1.19. The stock has a fifty day simple moving average of $2.52 and a 200 day simple moving average of $1.87. 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 for the quarter, beating 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 company had revenue of $41.57 million for the quarter, compared to analyst estimates of $40.17 million. As a group, research analysts predict that Neuronetics, Inc. will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Neuronetics

A number of hedge funds and other institutional investors have recently modified their holdings of STIM. Madryn Asset Management LP purchased a new position in Neuronetics in the second quarter valued at about $24,102,634. BlackRock Inc. bought a new stake in Neuronetics in the second quarter worth $776,000. FourWorld Capital Management LLC lifted its position in shares of Neuronetics by 59.9% in the first quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock worth $2,160,000 after buying an additional 558,072 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in shares of Neuronetics in the 2nd quarter valued at approximately $130,000. Finally, Hsbc Holdings PLC acquired a new position in Neuronetics during the second quarter valued at approximately $50,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup restated a “market outperform” rating on shares of Neuronetics in a research report on Tuesday, July 21st. B. Riley Financial assumed coverage on Neuronetics in a report on Friday, September 11th. They set a “buy” rating on the stock. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research report on Monday, September 14th. Finally, BTIG Research reaffirmed a “buy” rating and set a $6.00 target price on shares of Neuronetics in a research note on Thursday, September 17th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Neuronetics has an average rating of “Moderate Buy” and an average price target of $4.67.

Neuronetics Company Profile

Neuronetics, Inc is a medical technology company that develops and commercializes noninvasive treatments for psychiatric and neurological disorders. Its primary product is NeuroStar TMS Therapy, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain associated with mood regulation.

NeuroStar TMS Therapy is cleared by the U.S. Food and Drug Administration for treating major depressive disorder in adults and adolescents, obsessive-compulsive disorder, and depression with anxious distress.