Insider Buying: Neuronetics (NASDAQ:STIM) Major Shareholder Purchases 531,000 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIMGet Free Report) major shareholder Jorey Chernett bought 531,000 shares of the stock in a transaction on Tuesday, March 17th. The shares were acquired at an average cost of $1.16 per share, with a total value of $615,960.00. Following the purchase, the insider owned 7,516,404 shares of the company’s stock, valued at approximately $8,719,028.64. This represents a 7.60% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Neuronetics Price Performance

Shares of STIM traded up $0.12 during mid-day trading on Wednesday, reaching $1.35. The company had a trading volume of 2,235,150 shares, compared to its average volume of 2,051,427. The company’s 50 day simple moving average is $1.63 and its 200 day simple moving average is $2.05. Neuronetics, Inc. has a 1-year low of $0.80 and a 1-year high of $5.16. 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 market capitalization of $92.12 million, a price-to-earnings ratio of -1.64 and a beta of 0.87.

Neuronetics (NASDAQ:STIMGet Free Report) last released its quarterly earnings data on Tuesday, March 17th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $41.78 million during the quarter, compared to analysts’ expectations of $40.84 million. Neuronetics had a negative net margin of 33.88% and a negative return on equity of 131.15%. Analysts expect that Neuronetics, Inc. will post -1.13 EPS for the current year.

Neuronetics News Summary

Here are the key news stories impacting Neuronetics this week:

Wall Street Analyst Weigh In

A number of brokerages have recently commented on STIM. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, January 22nd. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Neuronetics presently has an average rating of “Hold” and a consensus target price of $7.00.

Check Out Our Latest Stock Analysis on STIM

Hedge Funds Weigh In On Neuronetics

A number of hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC boosted its holdings in shares of Neuronetics by 260.7% during the 3rd quarter. HighTower Advisors LLC now owns 577,069 shares of the company’s stock worth $1,575,000 after buying an additional 417,087 shares in the last quarter. AdvisorShares Investments LLC increased its stake in shares of Neuronetics by 42.5% in the 4th quarter. AdvisorShares Investments LLC now owns 270,916 shares of the company’s stock valued at $374,000 after acquiring an additional 80,801 shares in the last quarter. Madryn Asset Management LP acquired a new position in shares of Neuronetics during the 4th quarter valued at $25,497,000. UBS Group AG boosted its stake in Neuronetics by 20.4% during the fourth quarter. UBS Group AG now owns 2,607,047 shares of the company’s stock worth $3,598,000 after acquiring an additional 442,216 shares in the last quarter. Finally, Presidio Capital Management LLC boosted its stake in Neuronetics by 217.0% during the fourth quarter. Presidio Capital Management LLC now owns 37,436 shares of the company’s stock worth $52,000 after acquiring an additional 25,625 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.

About Neuronetics

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Neuronetics (NASDAQ:STIM)

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