18,475,893 Shares in Neuronetics, Inc. $STIM Bought by Madryn Asset Management LP

Madryn Asset Management LP bought a new position in Neuronetics, Inc. (NASDAQ:STIM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 18,475,893 shares of the company’s stock, valued at approximately $25,497,000. Neuronetics accounts for about 73.4% of Madryn Asset Management LP’s holdings, making the stock its largest holding. Madryn Asset Management LP owned about 26.98% of Neuronetics at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC boosted its holdings in Neuronetics by 260.7% in the 3rd quarter. HighTower Advisors LLC now owns 577,069 shares of the company’s stock worth $1,575,000 after buying an additional 417,087 shares during the period. UBS Group AG boosted its holdings in Neuronetics by 20.4% in the 4th quarter. UBS Group AG now owns 2,607,047 shares of the company’s stock worth $3,598,000 after buying an additional 442,216 shares during the period. Larson Financial Group LLC boosted its holdings in Neuronetics by 157.2% in the 3rd quarter. Larson Financial Group LLC now owns 17,813 shares of the company’s stock worth $49,000 after buying an additional 10,886 shares during the period. Caption Management LLC bought a new position in Neuronetics in the 3rd quarter worth $38,000. Finally, Raymond James Financial Inc. bought a new position in Neuronetics in the 2nd quarter worth $37,000. Institutional investors own 53.59% of the company’s stock.

Neuronetics Price Performance

Shares of NASDAQ:STIM opened at $1.22 on Thursday. The company has a current ratio of 1.67, a quick ratio of 1.50 and a debt-to-equity ratio of 3.59. Neuronetics, Inc. has a 12 month low of $0.80 and a 12 month high of $4.85. The company has a 50-day moving average price of $1.47 and a 200 day moving average price of $1.54. The company has a market cap of $84.90 million, a price-to-earnings ratio of -2.26 and a beta of 1.13.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Neuronetics had a negative net margin of 24.48% and a negative return on equity of 139.83%. The firm had revenue of $34.45 million during the quarter, compared to the consensus estimate of $34.17 million. As a group, equities research analysts predict that Neuronetics, Inc. will post -0.46 earnings per share for the current year.

Insider Transactions at Neuronetics

In related news, Director Keith J. Sullivan sold 46,289 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $1.34, for a total value of $62,027.26. Following the completion of the transaction, the director owned 1,590,924 shares of the company’s stock, valued at approximately $2,131,838.16. This trade represents a 2.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Jorey Chernett purchased 607,400 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was acquired at an average cost of $1.35 per share, with a total value of $819,990.00. Following the acquisition, the insider owned 8,123,804 shares in the company, valued at $10,967,135.40. The trade was a 8.08% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 2,432,872 shares of company stock valued at $3,184,906 and sold 78,725 shares valued at $105,492. 8.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on STIM shares. Canaccord Genuity Group dropped their target price on shares of Neuronetics from $7.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Wall Street Zen raised shares of Neuronetics from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.00.

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.