Neuronetics (NASDAQ:STIM) Stock: Insider Jorey Chernett Acquires 18,000 Shares

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett bought 18,000 shares of the business’s stock in a transaction on Friday, October 30th. The shares were acquired at an average price of $2.27 per share, for a total transaction of $40,860.00. Following the completion of the transaction, the insider owned 10,620,988 shares in the company, valued at approximately $24,109,642.76. This trade represents a 0.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Friday, August 14th, Jorey Chernett bought 14,000 shares of Neuronetics stock. The shares were bought at an average price of $3.16 per share, for a total transaction of $44,240.00.

Neuronetics Stock Performance

Shares of STIM stock opened at $2.26 on Wednesday. The stock has a 50-day moving average of $2.49 and a 200-day moving average of $1.87. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.88 and a quick ratio of 1.69. The stock has a market cap of $172.21 million, a PE ratio of -5.14 and a beta of 1.36. Neuronetics, Inc. has a one year low of $0.80 and a one year high of $3.44.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings results 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. Neuronetics had a negative net margin of 19.62% and a negative return on equity of 125.11%. The company had revenue of $41.57 million during the quarter, compared to analyst estimates of $40.17 million. As a group, sell-side analysts expect that Neuronetics, Inc. will post -0.33 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a report on Monday, September 14th. Citigroup reiterated a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. B. Riley Financial started coverage on Neuronetics in a research report on Friday, September 11th. They issued a “buy” rating for the company. Finally, BTIG Research reissued a “buy” rating and set a $6.00 target price on shares of Neuronetics in a research note on Thursday, September 17th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.67.

Hedge Funds Weigh In On Neuronetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. T3 Companies LLC bought a new position in Neuronetics during the 3rd quarter worth about $88,000. Engineers Gate Manager LP bought a new stake in shares of Neuronetics in the second quarter valued at about $74,000. Squarepoint Ops LLC lifted its holdings in shares of Neuronetics by 151.5% in the second quarter. Squarepoint Ops LLC now owns 94,616 shares of the company’s stock valued at $123,000 after purchasing an additional 57,000 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Neuronetics during the second quarter worth about $50,000. Finally, Madryn Asset Management LP acquired a new position in shares of Neuronetics during the second quarter worth about $24,102,634. 53.59% of the stock is owned by institutional investors and hedge funds.

About Neuronetics

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.