Geode Capital Management LLC Buys 8,466 Shares of Neuronetics, Inc. (NASDAQ:STIM)

Geode Capital Management LLC grew its stake in shares of Neuronetics, Inc. (NASDAQ:STIM) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 314,076 shares of the company’s stock after purchasing an additional 8,466 shares during the quarter. Geode Capital Management LLC owned about 1.03% of Neuronetics worth $506,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. David J Yvars Group increased its holdings in Neuronetics by 47.1% during the fourth quarter. David J Yvars Group now owns 46,325 shares of the company’s stock worth $75,000 after buying an additional 14,825 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Neuronetics by 10,954.1% during the 4th quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company’s stock worth $88,000 after purchasing an additional 54,442 shares during the last quarter. Finally, Tradewinds LLC. bought a new stake in shares of Neuronetics in the 4th quarter valued at about $32,000. Institutional investors own 53.59% of the company’s stock.

Insider Activity

In other Neuronetics news, CFO Stephen Furlong sold 10,845 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $3.83, for a total value of $41,536.35. Following the transaction, the chief financial officer now directly owns 471,727 shares of the company’s stock, valued at $1,806,714.41. This represents a 2.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Keith J. Sullivan sold 40,992 shares of Neuronetics stock in a transaction on Monday, February 10th. The stock was sold at an average price of $3.28, for a total value of $134,453.76. Following the sale, the chief executive officer now directly owns 1,283,362 shares of the company’s stock, valued at $4,209,427.36. This represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,369 shares of company stock valued at $358,929 over the last ninety days. 9.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Canaccord Genuity Group boosted their price target on Neuronetics from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th.

Neuronetics Trading Up 2.7 %

Shares of Neuronetics stock opened at $4.58 on Friday. The company has a debt-to-equity ratio of 4.90, a current ratio of 3.16 and a quick ratio of 2.87. The business has a fifty day simple moving average of $4.25 and a two-hundred day simple moving average of $2.70. Neuronetics, Inc. has a 1 year low of $0.52 and a 1 year high of $5.92. The company has a market capitalization of $301.43 million, a price-to-earnings ratio of -3.72 and a beta of 1.97.

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.