Key Points
- Jorey Chernett purchased 531,000 shares of Neuronetics on March 17 at an average price of $1.16, raising his direct stake to 7,516,404 shares (a 7.60% increase) valued at roughly $8.72 million, according to an SEC filing.
- Shares rose about 10.2% (opening at $1.35) after the trade; Neuronetics reported Q1 EPS of -$0.10 (beating estimates by $0.02) and revenue of $41.78 million, but remains unprofitable with negative net margin and return on equity.
- Several institutions have been increasing positions—most notably Goldman Sachs and Geode—with institutions owning 53.59% of the stock, while analyst consensus is a Hold with a $7 price target.
Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) 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 transaction, the insider directly owned 7,516,404 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major 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%
Shares of STIM 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 market cap of $92.46 million, a PE ratio of -2.29 and a beta of 0.87. 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 business's 50 day moving average is $1.62 and its two-hundred day moving average is $2.04.
Neuronetics (NASDAQ:STIM - Get Free Report) last issued its quarterly earnings data on Tuesday, March 17th. The company reported ($0.10) earnings per share 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 26.15% and a negative return on equity of 114.25%. Equities analysts predict that Neuronetics, Inc. will post -1.13 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Neuronetics from a "sell" rating to a "hold" rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Neuronetics in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $7.00.
Get Our Latest Analysis on STIM
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in shares of Neuronetics by 2,993.3% in the first quarter. Goldman Sachs Group Inc. now owns 630,393 shares of the company's stock worth $2,320,000 after acquiring an additional 610,014 shares during the last quarter. Geode Capital Management LLC raised its stake in Neuronetics by 172.3% during the 2nd quarter. Geode Capital Management LLC now owns 879,045 shares of the company's stock valued at $3,068,000 after purchasing an additional 556,268 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Neuronetics during the 2nd quarter valued at $34,000. Intech Investment Management LLC bought a new stake in Neuronetics in the 2nd quarter valued at $64,000. Finally, JPMorgan Chase & Co. boosted its holdings in Neuronetics by 195,023.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 66,342 shares of the company's stock valued at $232,000 after purchasing an additional 66,308 shares during the period. 53.59% of the stock is currently owned by institutional investors and hedge funds.
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.
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