Neuronetics (NASDAQ:STIM) Major Shareholder Jorey Chernett Acquires 531,000 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett bought 531,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were bought at an average cost of $1.16 per share, with a total value of $615,960.00. Following the purchase, the insider directly owned 7,516,404 shares in the company, valued at approximately $8,719,028.64. This trade represents a 7.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Neuronetics Trading Up 10.2%

Neuronetics stock opened at $1.35 on Thursday. Neuronetics, Inc. has a 12 month low of $0.80 and a 12 month high of $5.16. The company has a quick ratio of 2.09, a current ratio of 2.24 and a debt-to-equity ratio of 2.09. The stock has a market cap of $92.46 million, a P/E ratio of -2.29 and a beta of 0.87. The company’s fifty day simple moving average is $1.62 and its 200-day simple moving average is $2.04.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $41.78 million during the quarter, compared to analyst estimates of $40.84 million. Neuronetics had a negative return on equity of 114.25% and a negative net margin of 26.15%. As a group, sell-side analysts forecast that Neuronetics, Inc. will post -1.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.00.

Institutional Investors Weigh In On Neuronetics

Several institutional investors and hedge funds have recently modified their holdings of STIM. Presidio Capital Management LLC acquired a new position in Neuronetics during the third quarter worth $32,000. Intrua Financial LLC bought a new position in Neuronetics during the third quarter valued at about $33,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Neuronetics in the third quarter worth about $33,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Neuronetics during the 2nd quarter worth about $34,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Neuronetics during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.