Key Points
- Major shareholder Jorey Chernett sold 2,187,051 Neuronetics shares at an average $1.15 each, for about $2.52 million. The sale cut his holdings by 22.99%, leaving him with 7.33 million shares.
- Chernett’s other disclosed November trades brought his reported sales to about 3.33 million shares, partly offset by purchases of 40,000 shares.
- Neuronetics reported quarterly revenue of $41.96 million and a $0.02-per-share loss, beating analyst expectations for both. The stock fell 2.8% on Friday to $1.39.
Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) major shareholder Jorey Chernett sold 706,840 shares of the stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $1.43, for a total value of $1,010,781.20. Following the completion of the sale, the insider directly owned 9,512,628 shares of the company's stock, valued at $13,603,058.04. This represents a 6.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large 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, November 6th, Jorey Chernett sold 250,804 shares of Neuronetics stock. The stock was sold at an average price of $2.39, for a total transaction of $599,421.56.
- On Friday, November 13th, Jorey Chernett sold 2,187,051 shares of Neuronetics stock. The stock was sold at an average price of $1.15, for a total transaction of $2,515,108.65.
- On Wednesday, November 11th, Jorey Chernett sold 86,757 shares of Neuronetics stock. The stock was sold at an average price of $1.61, for a total transaction of $139,678.77.
- On Monday, November 9th, Jorey Chernett sold 103,959 shares of Neuronetics stock. The shares were sold at an average price of $2.06, for a total transaction of $214,155.54.
- On Monday, November 9th, Jorey Chernett bought 40,000 shares of Neuronetics stock. The shares were bought at an average price of $1.99 per share, with a total value of $79,600.00.
- On Friday, October 30th, Jorey Chernett purchased 18,000 shares of Neuronetics stock. The stock was bought at an average cost of $2.27 per share, with a total value of $40,860.00.
Neuronetics Stock Performance
Neuronetics stock traded down $0.04 during mid-day trading on Friday, reaching $1.39. The company had a trading volume of 16,248,659 shares, compared to its average volume of 2,081,244. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 2.76. Neuronetics, Inc. has a 52 week low of $0.80 and a 52 week high of $3.44. The company has a 50 day moving average of $2.35 and a 200-day moving average of $1.87. The firm has a market cap of $108.04 million, a price-to-earnings ratio of -4.21 and a beta of 1.36.
Neuronetics (NASDAQ:STIM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.07. Neuronetics had a negative net margin of 14.45% and a negative return on equity of 102.23%. The company had revenue of $41.96 million for the quarter, compared to analyst estimates of $40.42 million. On average, sell-side analysts expect that Neuronetics, Inc. will post -0.30 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Jump Financial LLC bought a new position in Neuronetics in the third quarter worth $69,000. Marshall Wace LLP increased its holdings in Neuronetics by 219.5% in the 3rd quarter. Marshall Wace LLP now owns 1,551,840 shares of the company's stock valued at $3,631,000 after buying an additional 1,066,148 shares during the period. Empowered Funds LLC bought a new stake in Neuronetics in the 3rd quarter valued at $211,000. HighTower Advisors LLC increased its holdings in Neuronetics by 95.4% in the 3rd quarter. HighTower Advisors LLC now owns 1,101,502 shares of the company's stock valued at $2,578,000 after buying an additional 537,761 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Neuronetics in the 3rd quarter valued at $176,000. 53.59% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. BTIG Research reiterated a "buy" rating and issued a $6.00 target price on shares of Neuronetics in a research note on Thursday, September 17th. B. Riley Financial boosted their price target on Neuronetics from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Friday, November 6th. Weiss Ratings restated a "sell (e+)" rating on shares of Neuronetics in a research note on Monday, September 14th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Neuronetics in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $5.00.
Get Our Latest Analysis on STIM
More Neuronetics News
These are some of the STIM news items that stood out recently:
- Positive Sentiment: Third-quarter revenue was $41.96 million, above the $40.43 million analyst estimate, while its $0.02-per-share loss was narrower than the expected $0.09 loss. The results may support sentiment about improving performance. Article: Neuronetics stock: Q3 revenue rises as loss narrows
- Negative Sentiment: Major shareholder Jorey Chernett disclosed several sales from November 6–13, totaling about 3.34 million shares, partly offset by a 40,000-share purchase. After the latest sale, Chernett held about 7.33 million shares. The scale of the selling may raise concerns about near-term supply and investor confidence. SEC filing on Chernett’s transactions
About Neuronetics
(
Get Free Report)
Neuronetics, Inc. is a medical technology company that develops and commercializes noninvasive treatments for certain mental health conditions. Its flagship product is the NeuroStar Advanced Therapy System, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain. NeuroStar is FDA-cleared for treating major depressive disorder in adults who have not achieved satisfactory improvement with antidepressant medication. The company also provides treatment-related services and support for clinicians and patients.
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