William Andrew Macan Sells 16,005 Shares of Neuronetics (NASDAQ:STIM) Stock

Neuronetics, Inc. (NASDAQ:STIM) EVP William Andrew Macan sold 16,005 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $1.34, for a total value of $21,446.70. Following the completion of the sale, the executive vice president owned 897,270 shares of the company’s stock, valued at $1,202,341.80. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

William Andrew Macan also recently made the following trade(s):

• On Thursday, February 26th, William Andrew Macan sold 3,427 shares of Neuronetics stock. The shares were sold at an average price of $1.35, for a total value of $4,626.45.
• On Thursday, February 12th, William Andrew Macan sold 14,120 shares of Neuronetics stock. The stock was sold at an average price of $1.65, for a total value of $23,298.00.
• On Tuesday, February 10th, William Andrew Macan sold 3,485 shares of Neuronetics stock. The stock was sold at an average price of $1.55, for a total value of $5,401.75.

Neuronetics Stock Down 5.0%

STIM opened at $1.33 on Friday. The stock has a fifty day moving average of $1.56 and a 200-day moving average of $1.98. The company has a market capitalization of $92.14 million, a P/E ratio of -2.25 and a beta of 0.87. Neuronetics, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $4.85. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.87 and a current ratio of 2.02.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings results on Tuesday, March 17th. The company reported ($0.10) EPS 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 business had revenue of $41.78 million for the quarter, compared to the consensus estimate of $40.84 million. On average, equities analysts expect that Neuronetics, Inc. will post -1.13 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on STIM. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Neuronetics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, Canaccord Genuity Group reduced their price target on Neuronetics from $7.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC lifted its position in Neuronetics by 260.7% during the third quarter. HighTower Advisors LLC now owns 577,069 shares of the company’s stock worth $1,575,000 after purchasing an additional 417,087 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Neuronetics by 2,667.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 69,756 shares of the company’s stock worth $96,000 after buying an additional 67,235 shares in the last quarter. Aristides Capital LLC bought a new position in Neuronetics in the 4th quarter valued at about $188,000. Madryn Asset Management LP bought a new position in Neuronetics in the 4th quarter valued at about $25,497,000. Finally, David J Yvars Group raised its position in shares of Neuronetics by 22.1% in the 4th 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 in the last quarter. 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.