Insider Buying: Neuronetics (NASDAQ:STIM) Major Shareholder Acquires $819,990.00 in Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett acquired 607,400 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were bought at an average cost of $1.35 per share, with a total value of $819,990.00. Following the completion of the acquisition, the insider directly owned 8,123,804 shares of the company’s stock, valued at $10,967,135.40. The trade was a 8.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 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 Thursday, March 19th, Jorey Chernett acquired 450,000 shares of Neuronetics stock. The stock was purchased at an average cost of $1.33 per share, with a total value of $598,500.00.
• On Tuesday, March 17th, Jorey Chernett acquired 531,000 shares of Neuronetics stock. The shares were purchased at an average price of $1.16 per share, with a total value of $615,960.00.

Neuronetics Stock Performance

STIM stock traded down $0.09 during trading on Friday, reaching $1.42. The stock had a trading volume of 715,464 shares, compared to its average volume of 2,083,779. Neuronetics, Inc. has a 52 week low of $0.80 and a 52 week high of $5.05. The stock’s 50 day moving average is $1.61 and its two-hundred day moving average is $2.04. The company has a current ratio of 2.02, a quick ratio of 2.09 and a debt-to-equity ratio of 2.51. The firm has a market cap of $98.65 million, a PE ratio of -2.40 and a beta of 0.87.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings results on Tuesday, March 17th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $41.78 million during the quarter, compared to the consensus estimate of $40.84 million. Neuronetics had a negative return on equity of 121.26% and a negative net margin of 26.15%. As a group, equities analysts anticipate that Neuronetics, Inc. will post -1.13 earnings per share for the current year.

Institutional Trading of Neuronetics

A number of large investors have recently added to or reduced their stakes in the company. David J Yvars Group lifted its position in Neuronetics by 22.1% in the fourth quarter. David J Yvars Group now owns 31,230 shares of the company’s stock worth $43,000 after buying an additional 5,650 shares during the last quarter. National Bank of Canada FI boosted its stake in Neuronetics by 27.5% during the third quarter. National Bank of Canada FI now owns 31,880 shares of the company’s stock worth $87,000 after buying an additional 6,880 shares during the period. Royal Bank of Canada increased its position in Neuronetics by 17.7% during the fourth quarter. Royal Bank of Canada now owns 47,233 shares of the company’s stock valued at $65,000 after acquiring an additional 7,099 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in Neuronetics during the second quarter valued at $34,000. Finally, Barclays PLC raised its stake in shares of Neuronetics by 19.2% in the fourth quarter. Barclays PLC now owns 61,606 shares of the company’s stock valued at $85,000 after acquiring an additional 9,941 shares during the period. Institutional investors own 53.59% of the company’s stock.

Analyst Ratings Changes

STIM has been the topic of several research analyst reports. Wall Street Zen raised shares of Neuronetics from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Canaccord Genuity Group cut their target price on shares of Neuronetics from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.00.

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.