Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) major shareholder Jorey Chernett acquired 169,472 shares of Neuronetics stock in a transaction dated Friday, March 20th. The shares were bought at an average cost of $1.41 per share, for a total transaction of $238,955.52. Following the completion of the purchase, the insider directly owned 8,743,276 shares of the company's stock, valued at approximately $12,328,019.16. The trade was a 1.98% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Jorey Chernett also recently made the following trade(s):
- On Thursday, March 19th, Jorey Chernett acquired 450,000 shares of Neuronetics stock. The stock was bought at an average price of $1.33 per share, for a total transaction of $598,500.00.
- On Wednesday, March 18th, Jorey Chernett bought 607,400 shares of Neuronetics stock. The stock was bought at an average cost of $1.35 per share, with a total value of $819,990.00.
- On Tuesday, March 17th, Jorey Chernett bought 531,000 shares of Neuronetics stock. The shares were bought at an average price of $1.16 per share, with a total value of $615,960.00.
Neuronetics Price Performance
STIM opened at $1.60 on Tuesday. The stock's 50 day simple moving average is $1.59 and its 200 day simple moving average is $2.00. The company has a debt-to-equity ratio of 2.51, a current ratio of 2.02 and a quick ratio of 1.87. Neuronetics, Inc. has a 1 year low of $0.80 and a 1 year high of $5.05. The firm has a market cap of $110.84 million, a price-to-earnings ratio of -2.71 and a beta of 0.87.
Neuronetics (NASDAQ:STIM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. Neuronetics had a negative return on equity of 121.26% and a negative net margin of 26.15%.The business had revenue of $41.78 million for the quarter, compared to analysts' expectations of $40.84 million. As a group, analysts predict that Neuronetics, Inc. will post -1.13 earnings per share for the current year.
Analyst Ratings Changes
STIM has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Neuronetics from a "hold" rating to a "sell" rating in a report on Saturday. Canaccord Genuity Group cut their price target on shares of Neuronetics from $7.00 to $3.00 and set a "buy" rating on the stock in a report on Thursday, March 19th. Finally, Weiss Ratings restated 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 given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $3.00.
View Our Latest Analysis on STIM
Institutional Investors Weigh In On Neuronetics
A number of large investors have recently made changes to their positions in STIM. Goldman Sachs Group Inc. lifted its holdings in 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 buying an additional 610,014 shares during the period. Geode Capital Management LLC grew its holdings in shares of Neuronetics by 172.3% during the 2nd quarter. Geode Capital Management LLC now owns 879,045 shares of the company's stock worth $3,068,000 after acquiring an additional 556,268 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Neuronetics during the 2nd quarter worth approximately $34,000. Intech Investment Management LLC bought a new position in shares of Neuronetics in the 2nd quarter worth approximately $64,000. Finally, JPMorgan Chase & Co. raised its position in shares of Neuronetics by 195,023.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 66,342 shares of the company's stock worth $232,000 after acquiring an additional 66,308 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.
Neuronetics Company Profile
(
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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