Insider Selling: Neuronetics (NASDAQ:STIM) Major Shareholder Sells 250,804 Shares of Company Stock

Key Points

• Major shareholder Jorey Chernett sold 250,804 Neuronetics shares at an average $2.39, worth about $599,000, reducing the position by 2.36%; he retained roughly 10.37 million shares. The article also lists additional sales in November, including 2.19 million shares sold at an average $1.15.
• Neuronetics reported quarterly revenue of $41.96 million and a loss of $0.02 per share, beating analysts’ estimates of $40.42 million in revenue and a $0.09-per-share loss.
• Analysts’ consensus rating was “Moderate Buy,” with a $5 average price target; shares traded at $1.39 on Friday, down 2.8%.

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) major shareholder Jorey Chernett sold 250,804 shares of the company's stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $2.39, for a total transaction of $599,421.56. Following the completion of the sale, the insider directly owned 10,370,184 shares of the company's stock, valued at $24,784,739.76. The trade was a 2.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% 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, November 13th, Jorey Chernett sold 2,187,051 shares of Neuronetics stock. The shares were sold at an average price of $1.15, for a total transaction of $2,515,108.65.
• On Thursday, November 12th, Jorey Chernett sold 706,840 shares of Neuronetics stock. The stock was sold at an average price of $1.43, for a total transaction of $1,010,781.20.
• 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 stock was sold at an average price of $2.06, for a total value of $214,155.54.
• On Monday, November 9th, Jorey Chernett bought 40,000 shares of Neuronetics stock. The shares were bought at an average cost of $1.99 per share, for a total transaction of $79,600.00.
• On Friday, October 30th, Jorey Chernett purchased 18,000 shares of Neuronetics stock. The stock was bought at an average price of $2.27 per share, for a total transaction of $40,860.00.

Neuronetics Stock Down 2.8%

Shares of STIM traded down $0.04 during trading hours on Friday, hitting $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 current ratio of 2.01, a quick ratio of 1.82 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $108.04 million, a PE ratio of -4.21 and a beta of 1.36. Neuronetics, Inc. has a one year low of $0.80 and a one year high of $3.44. The company's fifty day moving average price is $2.35 and its two-hundred day moving average price is $1.87.

Neuronetics (NASDAQ:STIM - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.07. Neuronetics had a negative return on equity of 102.23% and a negative net margin of 14.45%. The company had revenue of $41.96 million for the quarter, compared to the consensus estimate of $40.42 million. As a group, equities analysts forecast that Neuronetics, Inc. will post -0.30 earnings per share for the current fiscal year.

Institutional Trading of Neuronetics

Large investors have recently bought and sold shares of the stock. Empowered Funds LLC acquired a new position in Neuronetics during the 3rd quarter valued at approximately $211,000. HighTower Advisors LLC raised its holdings in shares of Neuronetics by 95.4% in the third quarter. HighTower Advisors LLC now owns 1,101,502 shares of the company's stock worth $2,578,000 after buying an additional 537,761 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Neuronetics in the third quarter worth $176,000. T3 Companies LLC acquired a new stake in shares of Neuronetics during the third quarter worth $88,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Neuronetics during the second quarter worth $74,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STIM. Weiss Ratings restated a "sell (e+)" rating on shares of Neuronetics in a report on Monday, September 14th. BTIG Research reiterated a "buy" rating and set a $6.00 price objective on shares of Neuronetics in a research note on Thursday, September 17th. Citigroup reissued a "market outperform" rating on shares of Neuronetics in a research report on Tuesday, July 21st. Finally, B. Riley Financial increased their target price on shares of Neuronetics from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Friday, November 6th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $5.00.

About Neuronetics

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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