Neuronetics (NASDAQ:STIM) Major Shareholder Jorey Chernett Purchases 475,000 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett bought 475,000 shares of Neuronetics stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $1.34 per share, for a total transaction of $636,500.00. Following the acquisition, the insider 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, April 20th, Jorey Chernett bought 100,000 shares of Neuronetics stock. The shares were bought at an average price of $1.58 per share, for a total transaction of $158,000.00.
• On Friday, March 20th, Jorey Chernett bought 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 bought 450,000 shares of Neuronetics stock. The shares were bought at an average price of $1.33 per share, for a total transaction of $598,500.00.
• On Wednesday, March 18th, Jorey Chernett bought 607,400 shares of Neuronetics stock. The shares were bought at an average price of $1.35 per share, for a total transaction 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

Shares of STIM opened at $1.51 on Thursday. The company has a current ratio of 1.67, a quick ratio of 1.50 and a debt-to-equity ratio of 3.59. Neuronetics, Inc. has a 1 year low of $0.80 and a 1 year high of $4.85. The stock has a market cap of $105.08 million, a P/E ratio of -2.80 and a beta of 1.13. The stock’s 50-day moving average price is $1.49 and its two-hundred day moving average price is $1.66.

Neuronetics (NASDAQ:STIM) last issued its earnings results on Tuesday, May 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $34.17 million. On average, equities analysts predict that Neuronetics, Inc. will post -0.46 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group cut their price objective on Neuronetics from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Neuronetics presently has a consensus rating of “Hold” and an average target price of $3.00.

Institutional Investors Weigh In On Neuronetics

Several institutional investors have recently bought and sold shares of STIM. Goldman Sachs Group Inc. lifted its stake in Neuronetics by 2,993.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 630,393 shares of the company’s stock valued at $2,320,000 after acquiring an additional 610,014 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Neuronetics by 172.3% during the 2nd quarter. Geode Capital Management LLC now owns 879,045 shares of the company’s stock worth $3,068,000 after purchasing an additional 556,268 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Neuronetics by 195,023.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 66,342 shares of the company’s stock worth $232,000 after purchasing an additional 66,308 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Neuronetics during the 2nd quarter worth approximately $103,000. Finally, Invesco Ltd. acquired a new position in shares of Neuronetics during the 2nd quarter worth approximately $100,000. Institutional investors own 53.59% of the company’s stock.

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.