Insider Selling: Neuronetics (NASDAQ:STIM) Major Shareholder Sells 706,840 Shares of Stock

Key Points

• Major shareholder Jorey Chernett sold 706,840 Neuronetics shares at an average $1.43 each, for about $1.01 million. After the sale, Chernett still held roughly 9.51 million shares.
• Chernett also reported several recent sales, including 2.19 million shares at an average $1.15. Neuronetics shares fell 2.8% on Friday to $1.39.
• Neuronetics beat quarterly expectations, reporting a loss of $0.02 per share and revenue of $41.96 million. Analysts’ consensus rating is “Moderate Buy,” with a $5.00 average price target.

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) major shareholder Jorey Chernett sold 706,840 shares of Neuronetics stock in a transaction 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 transaction, the insider owned 9,512,628 shares of the company's stock, valued at approximately $13,603,058.04. This trade 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 this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases 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 value 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 value of $2,515,108.65.
• On Wednesday, November 11th, Jorey Chernett sold 86,757 shares of Neuronetics stock. The shares were sold at an average price of $1.61, for a total value 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 value of $214,155.54.
• On Monday, November 9th, Jorey Chernett acquired 40,000 shares of Neuronetics stock. The stock was bought at an average price of $1.99 per share, with a total value of $79,600.00.
• On Friday, October 30th, Jorey Chernett acquired 18,000 shares of Neuronetics stock. The shares were bought at an average cost of $2.27 per share, with a total value of $40,860.00.

Neuronetics Stock Down 2.8%

Shares of STIM stock traded down $0.04 during trading hours on Friday, reaching $1.39. 16,248,659 shares of the stock were exchanged, compared to its average volume of 2,081,244. The business's fifty day moving average is $2.35 and its two-hundred day moving average is $1.87. The company has a debt-to-equity ratio of 2.76, a current ratio of 2.01 and a quick ratio of 1.82. Neuronetics, Inc. has a 12-month low of $0.80 and a 12-month high of $3.44. The firm has a market capitalization of $108.04 million, a P/E ratio of -4.21 and a beta of 1.36.

Neuronetics (NASDAQ:STIM - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $40.42 million. As a group, research analysts expect that Neuronetics, Inc. will post -0.30 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citigroup reiterated a "market outperform" rating on shares of Neuronetics in a research note on Tuesday, July 21st. B. Riley Financial increased their target price on Neuronetics from $5.00 to $6.00 and gave the company a "buy" rating in a report on Friday, November 6th. Weiss Ratings restated a "sell (e+)" rating on shares of Neuronetics in a research note on Monday, September 14th. Finally, BTIG Research reaffirmed a "buy" rating and set a $6.00 price target on shares of Neuronetics in a report on Thursday, September 17th. 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, Neuronetics presently has an average rating of "Moderate Buy" and a consensus price target of $5.00.

Institutional Trading of Neuronetics

Several institutional investors and hedge funds have recently made changes to their positions in STIM. Fielder Capital Group LLC acquired a new stake in shares of Neuronetics in the 2nd quarter valued at about $30,000. State of Wyoming acquired a new position in Neuronetics during the second quarter worth approximately $31,000. David J Yvars Group lifted its stake in Neuronetics by 35.7% in the second quarter. David J Yvars Group now owns 27,550 shares of the company's stock valued at $36,000 after buying an additional 7,250 shares during the last quarter. IMC Chicago LLC purchased a new stake in Neuronetics in the first quarter valued at approximately $40,000. Finally, Hsbc Holdings PLC purchased a new stake in Neuronetics in the second quarter valued at approximately $50,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

Neuronetics Company Profile

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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