Jorey Chernett Purchases 14,000 Shares of Neuronetics (NASDAQ:STIM) Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett acquired 14,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $3.16 per share, with a total value of $44,240.00. Following the purchase, the insider owned 10,602,988 shares of the company’s stock, valued at approximately $33,505,442.08. This trade represents a 0.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 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 bought 100,000 shares of Neuronetics stock. The stock was purchased at an average cost of $1.17 per share, for a total transaction of $117,000.00.

Neuronetics Trading Down 3.7%

NASDAQ:STIM opened at $3.15 on Wednesday. The firm has a market capitalization of $240.03 million, a P/E ratio of -7.16 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. The company has a fifty day moving average of $1.83 and a 200 day moving average of $1.59. Neuronetics, Inc. has a 52 week low of $0.80 and a 52 week high of $3.80.

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

Wall Street Analyst Weigh In

STIM has been the topic of a number of research analyst reports. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, June 18th. Citigroup reiterated a “market outperform” rating on shares of Neuronetics in a research report on Tuesday, July 21st. Finally, BTIG Research boosted their target price on 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.50.

Hedge Funds Weigh In On Neuronetics

Several hedge funds and other institutional investors have recently modified their holdings of STIM. National Bank of Canada FI increased its stake in shares of Neuronetics by 27.5% during the third quarter. National Bank of Canada FI now owns 31,880 shares of the company’s stock valued at $87,000 after purchasing an additional 6,880 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of 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 purchasing an additional 7,099 shares during the last quarter. David J Yvars Group boosted its position in shares of Neuronetics by 35.7% in 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 in the last quarter. Barclays PLC boosted its position in shares of Neuronetics by 19.2% in 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 in the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Neuronetics by 20.0% in the 3rd quarter. Squarepoint Ops LLC now owns 62,458 shares of the company’s stock worth $171,000 after buying an additional 10,423 shares during the last quarter. Hedge funds and other institutional investors 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.