Insider Selling: Neuronetics (NASDAQ:STIM) Major Shareholder Sells 86,757 Shares of Company Stock

Key Points

• Major shareholder Jorey Chernett sold 86,757 Neuronetics shares at an average price of $1.61, worth about $139,679, and retained roughly 10.2 million shares. The article also lists several other recent sales by Chernett.
• Neuronetics shares fell 2.8% to $1.39 on Friday, with trading volume far above its average.
• The company’s latest quarterly results beat analyst estimates for both earnings and revenue. Analysts’ average rating was “Moderate Buy,” with a consensus price target of $5.00.

Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) major shareholder Jorey Chernett sold 86,757 shares of the firm's stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $1.61, for a total value of $139,678.77. Following the sale, the insider directly owned 10,219,468 shares of the company's stock, valued at $16,453,343.48. This represents a 0.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions 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 shares were 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 shares were sold at an average price of $1.15, for a total value 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 value of $1,010,781.20.
• 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 transaction of $214,155.54.
• On Monday, November 9th, Jorey Chernett acquired 40,000 shares of Neuronetics stock. The shares were bought at an average cost 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 stock was bought at an average price of $2.27 per share, with a total value of $40,860.00.

Neuronetics Stock Down 2.8%

Shares of Neuronetics stock traded down $0.04 during trading on Friday, reaching $1.39. 16,248,659 shares of the company traded hands, compared to its average volume of 2,081,244. 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 1-year low of $0.80 and a 1-year high of $3.44. The company has a 50 day moving average price of $2.35 and a 200-day moving average price of $1.87. The firm has a market capitalization of $108.04 million, a PE ratio of -4.21 and a beta of 1.36.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Madryn Asset Management LP bought a new position in shares of Neuronetics during the 2nd quarter valued at approximately $24,102,634. BlackRock Inc. bought a new position in Neuronetics in the 2nd quarter worth approximately $776,000. FourWorld Capital Management LLC boosted its holdings in Neuronetics by 59.9% in the 1st quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company's stock worth $2,160,000 after buying an additional 558,072 shares during the period. Hsbc Holdings PLC purchased a new position in Neuronetics in the 2nd quarter valued at approximately $50,000. Finally, Royal Bank of Canada grew its stake in Neuronetics by 102.9% in the 1st quarter. Royal Bank of Canada now owns 95,848 shares of the company's stock valued at $140,000 after buying an additional 48,615 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company's stock.

Analyst Ratings Changes

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

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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