Jorey Chernett Buys 450,000 Shares of Neuronetics (NASDAQ:STIM) Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett bought 450,000 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was purchased at an average price of $1.33 per share, with a total value of $598,500.00. Following the transaction, the insider owned 8,573,804 shares in the company, valued at approximately $11,403,159.32. This represents a 5.54% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Wednesday, March 18th, Jorey Chernett purchased 607,400 shares of Neuronetics stock. The stock was purchased at an average price of $1.35 per share, with a total value of $819,990.00.
• On Tuesday, March 17th, Jorey Chernett purchased 531,000 shares of Neuronetics stock. The shares were purchased at an average cost of $1.16 per share, for a total transaction of $615,960.00.

Neuronetics Stock Performance

STIM traded down $0.09 during trading hours on Friday, hitting $1.42. 715,464 shares of the stock were exchanged, compared to its average volume of 2,083,779. The stock has a market cap of $98.65 million, a price-to-earnings ratio of -2.41 and a beta of 0.87. The stock has a 50-day simple moving average of $1.61 and a 200-day simple moving average of $2.04. The company has a debt-to-equity ratio of 2.51, a current ratio of 2.02 and a quick ratio of 2.09. Neuronetics, Inc. has a 12 month low of $0.80 and a 12 month high of $5.05.

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

Hedge Funds Weigh In On Neuronetics

Several institutional investors have recently modified their holdings of the company. HighTower Advisors LLC boosted its stake in Neuronetics by 260.7% during the 3rd quarter. HighTower Advisors LLC now owns 577,069 shares of the company’s stock valued at $1,575,000 after purchasing an additional 417,087 shares in the last quarter. UBS Group AG raised its stake in shares of Neuronetics by 20.4% in the 4th quarter. UBS Group AG now owns 2,607,047 shares of the company’s stock worth $3,598,000 after buying an additional 442,216 shares in the last quarter. Presidio Capital Management LLC raised its stake in shares of Neuronetics by 217.0% in the 4th quarter. Presidio Capital Management LLC now owns 37,436 shares of the company’s stock worth $52,000 after buying an additional 25,625 shares in the last quarter. David J Yvars Group lifted its holdings in shares of Neuronetics by 22.1% in the fourth quarter. David J Yvars Group now owns 31,230 shares of the company’s stock valued at $43,000 after buying an additional 5,650 shares during the period. Finally, Centiva Capital LP boosted its stake in Neuronetics by 110.2% during the third quarter. Centiva Capital LP now owns 117,322 shares of the company’s stock valued at $320,000 after buying an additional 61,501 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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