Neuronetics (NASDAQ:STIM) Major Shareholder Acquires 531,000 Shares

Neuronetics, Inc. (NASDAQ:STIMGet Free Report) major shareholder Jorey Chernett bought 531,000 shares of the stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average price of $1.16 per share, for a total transaction of $615,960.00. Following the purchase, the insider owned 7,516,404 shares of the company’s stock, valued at $8,719,028.64. This trade represents a 7.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Neuronetics Stock Performance

STIM traded up $0.12 during trading on Wednesday, hitting $1.35. The stock had a trading volume of 2,235,150 shares, compared to its average volume of 2,051,427. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.24 and a quick ratio of 2.09. The company has a 50 day moving average price of $1.63 and a 200-day moving average price of $2.05. Neuronetics, Inc. has a one year low of $0.80 and a one year high of $5.16. The firm has a market cap of $92.12 million, a price-to-earnings ratio of -1.64 and a beta of 0.87.

Neuronetics (NASDAQ:STIMGet Free Report) last posted its quarterly earnings data on Tuesday, March 17th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. Neuronetics had a negative return on equity of 131.15% and a negative net margin of 33.88%.The firm had revenue of $41.78 million for the quarter, compared to analysts’ expectations of $40.84 million. As a group, research analysts predict that Neuronetics, Inc. will post -1.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on STIM shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Read Our Latest Report on STIM

Neuronetics News Summary

Here are the key news stories impacting Neuronetics this week:

Institutional Trading of Neuronetics

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

Neuronetics Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Neuronetics (NASDAQ:STIM)

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