First Eagle Investment Management LLC Purchases 260,000 Shares of Neuronetics, Inc. (NASDAQ:STIM)

First Eagle Investment Management LLC boosted its position in Neuronetics, Inc. (NASDAQ:STIM) by 33.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,039,009 shares of the company’s stock after acquiring an additional 260,000 shares during the period. First Eagle Investment Management LLC owned 3.46% of Neuronetics worth $1,870,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. First Washington CORP lifted its stake in Neuronetics by 88.8% in the second quarter. First Washington CORP now owns 1,274,540 shares of the company’s stock valued at $2,294,000 after buying an additional 599,455 shares during the period. Renaissance Technologies LLC lifted its stake in Neuronetics by 124.5% in the second quarter. Renaissance Technologies LLC now owns 322,200 shares of the company’s stock valued at $580,000 after buying an additional 178,700 shares during the period. Dorsey & Whitney Trust CO LLC lifted its stake in Neuronetics by 97.1% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 95,880 shares of the company’s stock valued at $173,000 after buying an additional 47,228 shares during the period. Acadian Asset Management LLC lifted its stake in Neuronetics by 23.7% in the second quarter. Acadian Asset Management LLC now owns 326,975 shares of the company’s stock valued at $587,000 after buying an additional 62,628 shares during the period. Finally, Legato Capital Management LLC acquired a new position in Neuronetics in the second quarter valued at about $44,000. Institutional investors own 53.59% of the company’s stock.

Insider Transactions at Neuronetics

In other news, Director Robert Cascella bought 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $0.79 per share, with a total value of $27,650.00. Following the transaction, the director now owns 279,098 shares in the company, valued at $220,487.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert Cascella bought 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $0.79 per share, with a total value of $27,650.00. Following the transaction, the director now owns 279,098 shares in the company, valued at $220,487.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Keith J. Sullivan sold 24,162 shares of Neuronetics stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $1.90, for a total value of $45,907.80. Following the completion of the sale, the chief executive officer now directly owns 1,324,354 shares in the company, valued at approximately $2,516,272.60. The disclosure for this sale can be found here. Insiders have acquired a total of 211,776 shares of company stock valued at $175,170 over the last 90 days. 9.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

STIM has been the topic of several analyst reports. Canaccord Genuity Group cut their target price 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 reissued a “market perform” rating on shares of Neuronetics in a research note on Monday, August 12th. Finally, JMP Securities cut their target price on Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 14th.

Neuronetics Trading Down 1.9 %

NASDAQ STIM opened at $0.93 on Friday. The firm has a market cap of $28.17 million, a P/E ratio of -0.97 and a beta of 2.27. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.58 and a quick ratio of 2.37. The stock’s 50-day moving average is $1.28 and its 200-day moving average is $2.41. Neuronetics, Inc. has a one year low of $0.66 and a one year high of $5.07.

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

About Neuronetics

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.