Neuronetics, Inc. $STIM Shares Acquired by UBS Group AG

UBS Group AG grew its stake in Neuronetics, Inc. (NASDAQ:STIM) by 20.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,607,047 shares of the company’s stock after purchasing an additional 442,216 shares during the period. UBS Group AG’s holdings in Neuronetics were worth $3,598,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of STIM. Goldman Sachs Group Inc. raised its stake in shares of Neuronetics by 2,993.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 630,393 shares of the company’s stock valued at $2,320,000 after purchasing an additional 610,014 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Neuronetics by 172.3% in the 2nd quarter. Geode Capital Management LLC now owns 879,045 shares of the company’s stock valued at $3,068,000 after purchasing an additional 556,268 shares in the last quarter. Wexford Capital LP raised its stake in shares of Neuronetics by 83.1% in the 3rd quarter. Wexford Capital LP now owns 1,177,225 shares of the company’s stock valued at $3,214,000 after purchasing an additional 534,155 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Neuronetics by 260.7% in the 3rd quarter. HighTower Advisors LLC now owns 577,069 shares of the company’s stock valued at $1,575,000 after purchasing an additional 417,087 shares in the last quarter. Finally, EHP Funds Inc. acquired a new stake in shares of Neuronetics in the 3rd quarter valued at about $572,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

STIM has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Canaccord Genuity Group cut their target price on shares of Neuronetics from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Neuronetics currently has an average rating of “Hold” and an average target price of $3.00.

Insider Activity

In other Neuronetics news, major shareholder Jorey Chernett acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $1.17 per share, for a total transaction of $117,000.00. Following the completion of the purchase, the insider directly owned 10,553,988 shares in the company, valued at $12,348,165.96. The trade was a 0.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Keith J. Sullivan sold 46,289 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $1.34, for a total transaction of $62,027.26. Following the sale, the director owned 1,590,924 shares in the company, valued at approximately $2,131,838.16. This trade represents a 2.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have purchased 2,432,872 shares of company stock worth $3,184,906 and have sold 90,604 shares worth $121,528. 8.40% of the stock is owned by corporate insiders.

Neuronetics Price Performance

STIM opened at $1.20 on Friday. The firm has a market cap of $83.51 million, a price-to-earnings ratio of -2.22 and a beta of 1.13. Neuronetics, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $4.85. The company’s 50-day moving average price is $1.48 and its 200 day moving average price is $1.58. The company has a quick ratio of 1.50, a current ratio of 1.67 and a debt-to-equity ratio of 3.59.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. The firm had revenue of $34.45 million for the quarter, compared to analyst estimates of $34.17 million. Neuronetics had a negative net margin of 24.48% and a negative return on equity of 139.83%. As a group, sell-side analysts expect that Neuronetics, Inc. will post -0.46 earnings per share for the current year.

Neuronetics 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.