Insider Buying: Neuronetics, Inc. (NASDAQ:STIM) Director Purchases 25,000 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIM) Director Glenn P. Muir bought 25,000 shares of Neuronetics stock in a transaction on Thursday, September 5th. The shares were purchased at an average price of $0.80 per share, for a total transaction of $20,000.00. Following the acquisition, the director now directly owns 289,818 shares in the company, valued at approximately $231,854.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Neuronetics Stock Performance

Shares of NASDAQ:STIM traded down $0.01 during midday trading on Friday, reaching $0.78. 76,520 shares of the company’s stock traded hands, compared to its average volume of 238,287. Neuronetics, Inc. has a one year low of $0.66 and a one year high of $5.07. The stock has a 50 day moving average of $1.49 and a 200 day moving average of $2.59. The company has a market cap of $23.25 million, a price-to-earnings ratio of -0.82 and a beta of 2.27. The company has a debt-to-equity ratio of 2.38, a quick ratio of 2.37 and a current ratio of 2.58.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). Neuronetics had a negative net margin of 45.06% and a negative return on equity of 109.00%. The company had revenue of $16.45 million for the quarter, compared to analysts’ expectations of $18.76 million. During the same period in the previous year, the business earned ($0.17) EPS. As a group, equities research analysts anticipate that Neuronetics, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Neuronetics

A number of hedge funds have recently added to or reduced their stakes in STIM. Worth Venture Partners LLC purchased a new position in shares of Neuronetics in the 4th quarter worth $30,000. SG Americas Securities LLC bought a new stake in shares of Neuronetics during the 1st quarter valued at $62,000. Legato Capital Management LLC purchased a new stake in shares of Neuronetics in the 2nd quarter worth $44,000. FourWorld Capital Management LLC bought a new stake in Neuronetics during the first quarter valued at about $171,000. Finally, Gabelli Funds LLC lifted its stake in shares of Neuronetics by 88.2% during the 2nd quarter. Gabelli Funds LLC now owns 48,000 shares of the company’s stock valued at $86,000 after buying an additional 22,500 shares in the last quarter. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on STIM. Canaccord Genuity Group reduced their price target on Neuronetics from $6.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. William Blair restated a “market perform” rating on shares of Neuronetics in a report on Monday, August 12th. Finally, JMP Securities dropped their price target on Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 14th.

Neuronetics Company Profile

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder.