Key Points
- Jorey Chernett bought 100,000 shares on April 20 at $1.58, raising his stake to 9,878,988 shares (a 1.02% ownership increase) and bringing his total insider purchases since March 17 to about 1.86 million shares, indicating sizable insider accumulation.
- Shares rose ~6% to $1.59; Neuronetics has a $110.6M market cap, recently beat quarterly revenue and EPS estimates but remains unprofitable with negative net margin and ROE, and analysts' consensus is a Hold with a $3 price target.
Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) major shareholder Jorey Chernett purchased 100,000 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were acquired at an average price of $1.58 per share, with a total value of $158,000.00. Following the purchase, the insider owned 9,878,988 shares in the company, valued at $15,608,801.04. This trade represents a 1.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% 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 Friday, March 20th, Jorey Chernett purchased 169,472 shares of Neuronetics stock. The shares were acquired at an average price of $1.41 per share, with a total value of $238,955.52.
- On Thursday, March 19th, Jorey Chernett purchased 450,000 shares of Neuronetics stock. The shares were acquired at an average price of $1.33 per share, with a total value of $598,500.00.
- On Wednesday, March 18th, Jorey Chernett purchased 607,400 shares of Neuronetics stock. The shares were acquired 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 acquired at an average price of $1.16 per share, with a total value of $615,960.00.
Neuronetics Stock Up 6.0%
Shares of NASDAQ:STIM opened at $1.59 on Thursday. The stock has a market cap of $110.63 million, a P/E ratio of -2.69 and a beta of 0.87. The firm has a fifty day moving average price of $1.40 and a 200 day moving average price of $1.77. 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 $4.85.
Neuronetics (NASDAQ:STIM - Get Free Report) last issued its quarterly earnings results 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 firm 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 121.26%. Sell-side analysts predict that Neuronetics, Inc. will post -0.49 EPS for the current year.
Analyst Ratings Changes
Several research analysts have weighed in on the company. Wall Street Zen upgraded Neuronetics from a "sell" rating to a "hold" rating in a research note on Saturday, April 18th. Canaccord Genuity Group lowered their target price on Neuronetics from $7.00 to $3.00 and set a "buy" rating on the stock in a research note on Thursday, March 19th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Neuronetics in a research note 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $3.00.
View Our Latest Stock Report on STIM
Institutional Investors Weigh In On Neuronetics
Several institutional investors have recently modified their holdings of STIM. Goldman Sachs Group Inc. boosted its stake in shares of Neuronetics by 2,993.3% during the 1st 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 in the last quarter. Geode Capital Management LLC boosted its stake 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Neuronetics by 195,023.5% during 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. New York State Common Retirement Fund purchased a new stake in shares of Neuronetics during the 2nd quarter worth approximately $103,000. Finally, Invesco Ltd. purchased a new stake in shares of Neuronetics during the 2nd quarter worth approximately $100,000. Hedge funds and other institutional investors own 53.59% of the company's stock.
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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