Key Points
- Major shareholder Jorey Chernett bought 18,000 Neuronetics shares at an average price of $2.27, investing $40,860 and increasing his stake by 0.17% to 10.62 million shares.
- Neuronetics recently beat quarterly expectations, reporting revenue of $41.57 million and an adjusted loss of $0.05 per share versus analysts’ expected loss of $0.12, though the company remains unprofitable.
- Analyst sentiment is mixed but leans positive: four analysts rate the stock Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $4.67 versus a recent price of $2.06.
Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) major shareholder Jorey Chernett acquired 18,000 shares of the firm's stock in a transaction on Friday, October 30th. The stock was purchased at an average price of $2.27 per share, for a total transaction of $40,860.00. Following the transaction, the insider directly owned 10,620,988 shares of the company's stock, valued at approximately $24,109,642.76. This trade represents a 0.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Jorey Chernett also recently made the following trade(s):
- On Friday, August 14th, Jorey Chernett acquired 14,000 shares of Neuronetics stock. The shares were purchased at an average cost of $3.16 per share, with a total value of $44,240.00.
Neuronetics Stock Performance
Neuronetics stock opened at $2.06 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.69 and a debt-to-equity ratio of 2.84. The firm has a 50-day moving average of $2.50 and a 200-day moving average of $1.87. The firm has a market cap of $156.97 million, a P/E ratio of -4.68 and a beta of 1.19. Neuronetics, Inc. has a 1-year low of $0.80 and a 1-year high of $3.44.
Neuronetics (NASDAQ:STIM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.07. The company had revenue of $41.57 million for the quarter, compared to the consensus estimate of $40.17 million. Neuronetics had a negative return on equity of 125.11% and a negative net margin of 19.62%. Sell-side analysts expect that Neuronetics, Inc. will post -0.33 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on STIM shares. B. Riley Financial started coverage on Neuronetics in a research note on Friday, September 11th. They issued a "buy" rating for the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Neuronetics in a report on Monday, September 14th. BTIG Research reiterated a "buy" rating and issued a $6.00 price target on shares of Neuronetics in a research note on Thursday, September 17th. Wall Street Zen upgraded shares of Neuronetics from a "sell" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, Citigroup reiterated a "market outperform" rating on shares of Neuronetics in a research note on Tuesday, July 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Neuronetics has a consensus rating of "Moderate Buy" and a consensus target price of $4.67.
Check Out Our Latest Research Report on STIM
Hedge Funds Weigh In On Neuronetics
Institutional investors have recently bought and sold shares of the stock. Fielder Capital Group LLC purchased a new stake in Neuronetics in the 2nd quarter worth $30,000. State of Wyoming bought a new position in shares of Neuronetics during the 2nd quarter valued at about $31,000. David J Yvars Group grew its position in shares of Neuronetics by 35.7% during the second quarter. David J Yvars Group now owns 27,550 shares of the company's stock valued at $36,000 after purchasing an additional 7,250 shares in the last quarter. IMC Chicago LLC purchased a new position in shares of Neuronetics during the first quarter valued at about $40,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Neuronetics in the second quarter worth about $50,000. 53.59% of the stock is owned by hedge funds and other institutional investors.
About Neuronetics
(
Get Free Report)
Neuronetics, Inc is a medical technology company that develops and commercializes noninvasive treatments for psychiatric and neurological disorders. Its primary product is NeuroStar TMS Therapy, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain associated with mood regulation.
NeuroStar TMS Therapy is cleared by the U.S. Food and Drug Administration for treating major depressive disorder in adults and adolescents, obsessive-compulsive disorder, and depression with anxious distress.
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