Neuronetics (NASDAQ:STIM) Major Shareholder Purchases 14,000 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett bought 14,000 shares of the stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $3.16 per share, for a total transaction of $44,240.00. Following the completion of the acquisition, the insider owned 10,602,988 shares in the company, valued at approximately $33,505,442.08. The trade was a 0.13% 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 at least 10% 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 19th, Jorey Chernett purchased 100,000 shares of Neuronetics stock. The stock was bought at an average cost of $1.17 per share, with a total value of $117,000.00.

Neuronetics Price Performance

Shares of NASDAQ:STIM traded down $0.04 during midday trading on Monday, hitting $3.27. The company had a trading volume of 687,336 shares, compared to its average volume of 2,319,308. Neuronetics, Inc. has a twelve month low of $0.80 and a twelve month high of $3.80. The stock has a market cap of $248.79 million, a price-to-earnings ratio of -7.42 and a beta of 1.03. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.88 and a quick ratio of 1.69. The business’s 50-day simple moving average is $1.76 and its 200-day simple moving average is $1.58.

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

Institutional Investors Weigh In On Neuronetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of Neuronetics in the 2nd quarter valued at $37,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Neuronetics during the 3rd quarter worth about $33,000. Caption Management LLC acquired a new stake in shares of Neuronetics during the 3rd quarter worth about $38,000. Larson Financial Group LLC raised its holdings in Neuronetics by 157.2% in the 3rd quarter. Larson Financial Group LLC now owns 17,813 shares of the company’s stock valued at $49,000 after buying an additional 10,886 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Neuronetics in the 2nd quarter valued at about $69,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Wall Street Analyst Weigh In

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

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.