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

Madryn Asset Management LP acquired a new position in Neuronetics, Inc. (NASDAQ:STIM) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 18,475,893 shares of the company’s stock, valued at approximately $25,497,000. Neuronetics accounts for 73.4% of Madryn Asset Management LP’s investment portfolio, making the stock its largest holding. Madryn Asset Management LP owned approximately 0.27% of Neuronetics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Neuronetics by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 891,733 shares of the company’s stock worth $1,231,000 after purchasing an additional 14,799 shares during the period. UBS Group AG increased its position in shares of Neuronetics by 20.4% during the fourth quarter. UBS Group AG now owns 2,607,047 shares of the company’s stock worth $3,598,000 after acquiring an additional 442,216 shares during the period. Presidio Capital Management LLC increased its position in shares of Neuronetics by 217.0% during the fourth quarter. Presidio Capital Management LLC now owns 37,436 shares of the company’s stock worth $52,000 after acquiring an additional 25,625 shares during the period. David J Yvars Group increased its position in shares of Neuronetics by 22.1% during the fourth quarter. David J Yvars Group now owns 31,230 shares of the company’s stock worth $43,000 after acquiring an additional 5,650 shares during the period. Finally, Wexford Capital LP increased its position in shares of Neuronetics by 83.1% during the third quarter. Wexford Capital LP now owns 1,177,225 shares of the company’s stock worth $3,214,000 after acquiring an additional 534,155 shares during the period. 53.59% of the stock is owned by hedge funds and other institutional investors.

Neuronetics Stock Performance

Shares of NASDAQ:STIM opened at $1.22 on Thursday. The firm has a market cap of $84.90 million, a PE ratio of -2.26 and a beta of 1.13. The firm’s 50 day simple moving average is $1.47 and its 200-day simple moving average is $1.54. Neuronetics, Inc. has a one year low of $0.80 and a one year high of $4.85. The company has a debt-to-equity ratio of 3.59, a quick ratio of 1.50 and a current ratio of 1.67.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.16) earnings per share (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 for the quarter, compared to the consensus estimate of $34.17 million. As a group, equities analysts predict that Neuronetics, Inc. will post -0.46 EPS for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

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

About Neuronetics

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.