Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) major shareholder Jorey Chernett bought 14,000 shares of the company's stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $3.16 per share, with a total value of $44,240.00. Following the transaction, the insider directly owned 10,602,988 shares in the company, valued at approximately $33,505,442.08. The trade was a 0.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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 Tuesday, May 19th, Jorey Chernett purchased 100,000 shares of Neuronetics stock. The shares were bought at an average cost of $1.17 per share, for a total transaction of $117,000.00.
Neuronetics Stock Down 0.9%
Shares of Neuronetics stock opened at $3.27 on Tuesday. The company has a quick ratio of 1.69, a current ratio of 1.88 and a debt-to-equity ratio of 2.84. The firm has a market cap of $249.16 million, a P/E ratio of -7.43 and a beta of 1.03. Neuronetics, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $3.80. The business has a 50-day moving average price of $1.79 and a 200 day moving average price of $1.59.
Neuronetics (NASDAQ:STIM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.07. The firm had revenue of $41.57 million for the quarter, compared to analysts' expectations of $40.17 million. Neuronetics had a negative return on equity of 125.11% and a negative net margin of 19.62%.
Institutional Trading of Neuronetics
Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in Neuronetics by 2,993.3% in the 1st 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 in the last quarter. Geode Capital Management LLC grew its holdings in Neuronetics by 172.3% during the second 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. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 66,308 shares in the last quarter. New York State Common Retirement Fund bought a new stake in shares of Neuronetics in the 2nd quarter worth approximately $103,000. Finally, Invesco Ltd. acquired a new stake in Neuronetics during the second quarter valued at approximately $100,000. 53.59% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
STIM has been the subject of a number of research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Neuronetics in a report on Thursday, June 18th. Wall Street Zen raised shares of Neuronetics from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. BTIG Research boosted their price objective on shares of Neuronetics from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Finally, Citigroup reiterated a "market outperform" rating on shares of Neuronetics in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $4.50.
Read Our Latest Analysis on STIM
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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