Key Points
- Jorey Chernett, Neuronetics’ major shareholder, bought 475,000 shares at an average price of $1.34 each, a transaction worth $636,500. After the purchase, he owned 10.45 million shares, increasing his stake by 4.76%.
- This is part of a recent pattern of insider buying by Chernett, who also purchased shares multiple times in March and April. The repeated transactions suggest continued insider confidence in the company.
- Neuronetics recently reported quarterly earnings of -$0.16 per share, slightly better than expectations, on $34.45 million in revenue. Analysts currently have a Hold consensus rating on the stock with a target price of $3.00.
Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) major shareholder Jorey Chernett purchased 475,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $1.34 per share, for a total transaction of $636,500.00. Following the transaction, the insider directly owned 10,453,988 shares in the company, valued at approximately $14,008,343.92. The trade was a 4.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Jorey Chernett also recently made the following trade(s):
- On Monday, April 20th, Jorey Chernett bought 100,000 shares of Neuronetics stock. The shares were acquired at an average cost of $1.58 per share, for a total transaction of $158,000.00.
- On Friday, March 20th, Jorey Chernett bought 169,472 shares of Neuronetics stock. The shares were acquired at an average cost of $1.41 per share, for a total transaction of $238,955.52.
- On Thursday, March 19th, Jorey Chernett bought 450,000 shares of Neuronetics stock. The shares were acquired at an average cost of $1.33 per share, for a total transaction of $598,500.00.
- On Wednesday, March 18th, Jorey Chernett acquired 607,400 shares of Neuronetics stock. The stock was purchased at an average cost of $1.35 per share, for a total transaction of $819,990.00.
- On Tuesday, March 17th, Jorey Chernett acquired 531,000 shares of Neuronetics stock. The stock was purchased at an average cost of $1.16 per share, for a total transaction of $615,960.00.
Neuronetics Stock Performance
Shares of NASDAQ STIM opened at $1.51 on Thursday. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.67 and a quick ratio of 1.50. The stock's fifty day moving average price is $1.49 and its two-hundred day moving average price is $1.66. Neuronetics, Inc. has a one year low of $0.80 and a one year high of $4.85. The firm has a market cap of $105.08 million, a price-to-earnings ratio of -2.80 and a beta of 1.13.
Neuronetics (NASDAQ:STIM - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.16) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.01. The firm had revenue of $34.45 million during the quarter, compared to the consensus estimate of $34.17 million. Neuronetics had a negative return on equity of 139.83% and a negative net margin of 24.48%. On average, equities analysts forecast that Neuronetics, Inc. will post -0.46 EPS for the current year.
Institutional Investors Weigh In On Neuronetics
A number of hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. acquired a new stake in Neuronetics in the first quarter valued at approximately $110,000. IMC Chicago LLC acquired a new stake in Neuronetics in the first quarter valued at approximately $40,000. Citizens Financial Group Inc. RI acquired a new stake in Neuronetics in the first quarter valued at approximately $161,000. AdvisorShares Investments LLC grew its stake in Neuronetics by 127.8% in the first quarter. AdvisorShares Investments LLC now owns 617,193 shares of the company's stock valued at $895,000 after acquiring an additional 346,277 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its stake in Neuronetics by 2,667.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 69,756 shares of the company's stock valued at $96,000 after acquiring an additional 67,235 shares during the period. Institutional investors and hedge funds own 53.59% of the company's stock.
Analyst Upgrades and Downgrades
STIM has been the subject of several recent analyst reports. Wall Street Zen upgraded Neuronetics from a "sell" rating to a "hold" rating in a research report on Saturday, April 18th. Canaccord Genuity Group lowered their target price on Neuronetics from $7.00 to $3.00 and set a "buy" rating for the company in a report on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Neuronetics in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $3.00.
View Our Latest Stock Analysis on Neuronetics
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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