Legato Capital Management LLC Invests $44,000 in Neuronetics, Inc. (NASDAQ:STIM)

Legato Capital Management LLC purchased a new stake in Neuronetics, Inc. (NASDAQ:STIM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 24,540 shares of the company’s stock, valued at approximately $44,000. Legato Capital Management LLC owned about 0.08% of Neuronetics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in shares of Neuronetics by 63.0% in the second quarter. Assenagon Asset Management S.A. now owns 135,746 shares of the company’s stock valued at $244,000 after purchasing an additional 52,450 shares during the last quarter. FourWorld Capital Management LLC acquired a new position in Neuronetics in the 1st quarter valued at $171,000. Silvercrest Asset Management Group LLC increased its position in Neuronetics by 4.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,178,365 shares of the company’s stock worth $5,609,000 after buying an additional 51,881 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Neuronetics by 53.0% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 48,652 shares of the company’s stock worth $232,000 after buying an additional 16,855 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Neuronetics during the first quarter worth $62,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on STIM shares. JMP Securities lowered their price target on shares of Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 14th. Canaccord Genuity Group dropped their price target on shares of Neuronetics from $6.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, William Blair reissued a “market perform” rating on shares of Neuronetics in a research report on Monday, August 12th.

Insiders Place Their Bets

In related news, Director Robert Cascella acquired 35,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $0.79 per share, for a total transaction of $27,650.00. Following the transaction, the director now directly owns 279,098 shares in the company, valued at $220,487.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert Cascella acquired 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $0.79 per share, with a total value of $27,650.00. Following the acquisition, the director now directly owns 279,098 shares in the company, valued at approximately $220,487.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Keith J. Sullivan sold 24,162 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $1.90, for a total value of $45,907.80. Following the completion of the transaction, the chief executive officer now directly owns 1,324,354 shares of the company’s stock, valued at approximately $2,516,272.60. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 124,000 shares of company stock valued at $171,810. 9.80% of the stock is currently owned by corporate insiders.

Neuronetics Price Performance

STIM traded down $0.02 during trading on Tuesday, hitting $0.93. 232,515 shares of the stock traded hands, compared to its average volume of 238,813. The business has a 50 day moving average price of $1.64 and a 200 day moving average price of $2.72. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.58 and a quick ratio of 2.37. Neuronetics, Inc. has a twelve month low of $0.66 and a twelve month high of $5.07. The company has a market cap of $28.19 million, a price-to-earnings ratio of -0.99 and a beta of 2.32.

Neuronetics (NASDAQ:STIM) last posted 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). Neuronetics had a negative return on equity of 109.00% and a negative net margin of 45.06%. The business had revenue of $16.45 million for the quarter, compared to analyst estimates of $18.76 million. During the same period last year, the firm posted ($0.17) EPS. Equities research analysts forecast 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.