Neuronetics (NASDAQ:STIM) Major Shareholder Jorey Chernett Acquires 14,000 Shares

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett purchased 14,000 shares of Neuronetics stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $3.16 per share, for a total transaction of $44,240.00. Following the completion of the transaction, the insider owned 10,602,988 shares of the company’s stock, valued at $33,505,442.08. This represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

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

Neuronetics Price Performance

Neuronetics stock opened at $3.27 on Tuesday. Neuronetics, Inc. has a 52-week low of $0.80 and a 52-week high of $3.80. The firm has a fifty day moving average of $1.79 and a 200-day moving average of $1.59. The firm has a market capitalization of $249.16 million, a P/E ratio of -7.43 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 issued its earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The business had revenue of $41.57 million for the quarter, compared to the consensus estimate of $40.17 million. Neuronetics had a negative net margin of 19.62% and a negative return on equity of 125.11%.

Institutional Trading of Neuronetics

Large investors have recently modified their holdings of the business. National Bank of Canada FI lifted its stake in shares of Neuronetics by 27.5% in the third quarter. National Bank of Canada FI now owns 31,880 shares of the company’s stock worth $87,000 after acquiring an additional 6,880 shares in the last quarter. Royal Bank of Canada grew its stake in Neuronetics by 17.7% during the 4th quarter. Royal Bank of Canada now owns 47,233 shares of the company’s stock valued at $65,000 after purchasing an additional 7,099 shares in the last quarter. David J Yvars Group increased its holdings in Neuronetics by 35.7% during the 2nd quarter. David J Yvars Group now owns 27,550 shares of the company’s stock worth $36,000 after purchasing an additional 7,250 shares during the last quarter. Barclays PLC increased its holdings in Neuronetics by 19.2% during the 4th quarter. Barclays PLC now owns 61,606 shares of the company’s stock worth $85,000 after purchasing an additional 9,941 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Neuronetics by 20.0% in the 3rd quarter. Squarepoint Ops LLC now owns 62,458 shares of the company’s stock valued at $171,000 after purchasing an additional 10,423 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Neuronetics Company Profile

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.