18,540,488 Shares in Neuronetics, Inc. $STIM Purchased by Madryn Asset Management LP

Madryn Asset Management LP bought a new position in Neuronetics, Inc. (NASDAQ:STIM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 18,540,488 shares of the company's stock, valued at approximately $24,102,634. Neuronetics comprises about 0.1% of Madryn Asset Management LP's holdings, making the stock its biggest position. Madryn Asset Management LP owned 24.33% of Neuronetics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS Group AG boosted its stake in shares of Neuronetics by 20.4% in the fourth quarter. UBS Group AG now owns 2,607,047 shares of the company's stock valued at $3,598,000 after buying an additional 442,216 shares in the last quarter. FourWorld Capital Management LLC raised its position in Neuronetics by 59.9% in the first quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company's stock worth $2,160,000 after acquiring an additional 558,072 shares in the last quarter. Squarepoint Ops LLC raised its position in Neuronetics by 20.0% in the third quarter. Squarepoint Ops LLC now owns 62,458 shares of the company's stock worth $171,000 after acquiring an additional 10,423 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Neuronetics by 3.3% in the third quarter. Vanguard Group Inc. now owns 2,832,118 shares of the company's stock valued at $7,732,000 after acquiring an additional 89,504 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in Neuronetics by 55.3% in the second quarter. Bridgeway Capital Management LLC now owns 70,205 shares of the company's stock valued at $245,000 after acquiring an additional 25,000 shares during the period. Institutional investors own 53.59% of the company's stock.

Neuronetics Trading Down 0.7%

NASDAQ:STIM opened at $2.94 on Friday. Neuronetics, Inc. has a 52-week low of $0.80 and a 52-week high of $3.71. 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 stock has a fifty day simple moving average of $2.11 and a 200-day simple moving average of $1.66. The company has a market capitalization of $224.03 million, a PE ratio of -6.68 and a beta of 1.03.

Neuronetics (NASDAQ:STIM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $41.57 million for the quarter, compared to analysts' expectations of $40.17 million.

Wall Street Analyst Weigh In

STIM has been the topic of several recent analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of Neuronetics in a research report on Thursday, June 18th. BTIG Research lifted their price target 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. Wall Street Zen upgraded shares of Neuronetics from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, Citigroup reissued a "market outperform" rating on shares of Neuronetics in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Neuronetics currently has an average rating of "Moderate Buy" and an average target price of $4.50.

Insider Activity

In other Neuronetics news, major shareholder Jorey Chernett purchased 14,000 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $3.16 per share, for a total transaction of $44,240.00. Following the completion of the transaction, the insider directly owned 10,602,988 shares of the company's stock, valued at $33,505,442.08. This trade represents a 0.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 8.40% of the stock is owned by company insiders.

Neuronetics Company Profile

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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