HighTower Advisors LLC Boosts Position in Neuronetics, Inc. $STIM

HighTower Advisors LLC increased its position in shares of Neuronetics, Inc. (NASDAQ:STIM) by 260.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 577,069 shares of the company’s stock after acquiring an additional 417,087 shares during the quarter. HighTower Advisors LLC’s holdings in Neuronetics were worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in Neuronetics by 2,993.3% during the first quarter. Goldman Sachs Group Inc. now owns 630,393 shares of the company’s stock worth $2,320,000 after purchasing an additional 610,014 shares during the period. Geode Capital Management LLC grew its stake in shares of Neuronetics by 172.3% in the 2nd quarter. Geode Capital Management LLC now owns 879,045 shares of the company’s stock valued at $3,068,000 after buying an additional 556,268 shares during the period. Tradewinds LLC. acquired a new stake in shares of Neuronetics during the 3rd quarter worth approximately $378,000. Balyasny Asset Management L.P. increased its holdings in shares of Neuronetics by 6.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,509,099 shares of the company’s stock worth $5,267,000 after buying an additional 92,048 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Neuronetics by 436.2% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 86,919 shares of the company’s stock valued at $303,000 after buying an additional 70,709 shares during the period. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Neuronetics

In other news, CEO Keith J. Sullivan sold 40,976 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $1.55, for a total transaction of $63,512.80. Following the completion of the transaction, the chief executive officer directly owned 1,567,012 shares in the company, valued at $2,428,868.60. This trade represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 104,307 shares of company stock worth $164,097 in the last ninety days. Company insiders own 9.80% of the company’s stock.

Wall Street Analyst Weigh In

STIM has been the subject of several analyst reports. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed 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 given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.00.

Neuronetics Stock Performance

NASDAQ:STIM opened at $1.34 on Monday. Neuronetics, Inc. has a fifty-two week low of $1.20 and a fifty-two week high of $5.92. The company has a debt-to-equity ratio of 2.09, a quick ratio of 2.09 and a current ratio of 2.24. The company has a 50 day moving average price of $1.66 and a 200 day moving average price of $2.22. The stock has a market capitalization of $91.78 million, a P/E ratio of -1.63 and a beta of 0.87.

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.