BlackRock Inc. Invests $776,000 in Neuronetics, Inc. $STIM

Key Points

• BlackRock acquired 596,622 Neuronetics shares valued at approximately $776,000, giving it a 0.86% stake. Institutional investors and hedge funds collectively own 53.59% of STIM.
• Neuronetics reported quarterly revenue of $41.57 million and an adjusted loss of $0.05 per share, exceeding analyst expectations of $40.17 million in revenue and a $0.12 loss.
• Analyst sentiment is generally positive, with three Buy ratings and one Sell rating; the consensus rating is “Moderate Buy” and the average price target is $4.50, while BTIG raised its target to $6.00.

BlackRock Inc. acquired a new position in shares of Neuronetics, Inc. (NASDAQ:STIM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 596,622 shares of the company's stock, valued at approximately $776,000. BlackRock Inc. owned approximately 0.86% of Neuronetics at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in STIM. UBS Group AG increased its holdings in shares of Neuronetics by 20.4% in the 4th quarter. UBS Group AG now owns 2,607,047 shares of the company's stock valued at $3,598,000 after acquiring an additional 442,216 shares during the period. Madryn Asset Management LP purchased a new stake in shares of Neuronetics during the fourth quarter worth approximately $25,497,000. FourWorld Capital Management LLC raised its stake in shares of Neuronetics by 59.9% during the first quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company's stock worth $2,160,000 after purchasing an additional 558,072 shares during the last quarter. Sei Investments Co. acquired a new position in Neuronetics in the 1st quarter valued at $110,000. Finally, Fielder Capital Group LLC acquired a new position in Neuronetics in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 53.59% of the company's stock.

Insider Buying and Selling at Neuronetics

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

Neuronetics Stock Performance

Shares of NASDAQ STIM opened at $2.88 on Monday. Neuronetics, Inc. has a 12 month low of $0.80 and a 12 month high of $3.71. The company has a market cap of $219.46 million, a PE ratio of -6.55 and a beta of 1.16. The company has a 50-day simple moving average of $2.27 and a 200-day simple moving average of $1.71. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.88 and a quick ratio of 1.69.

Neuronetics (NASDAQ:STIM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. Neuronetics had a negative return on equity of 125.11% and a negative net margin of 19.62%.The business had revenue of $41.57 million for the quarter, compared to analysts' expectations of $40.17 million.

Analyst Upgrades and Downgrades

STIM has been the subject of several analyst reports. Wall Street Zen raised shares of Neuronetics from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Citigroup reaffirmed a "market outperform" rating on shares of Neuronetics in a report on Tuesday, July 21st. Weiss Ratings reiterated a "sell (e+)" rating on shares of Neuronetics in a research report on Thursday, June 18th. Finally, BTIG Research increased their target price on Neuronetics from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Neuronetics presently has an average rating of "Moderate Buy" and a consensus price target of $4.50.

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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