Neuronetics
STIM on Nasdaq. Neuronetics sells brain stimulation devices and treatment sessions to doctors and patients. Market value $168m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-6.70 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns -71 cents a year. Above 10 is good.
Quality score: 20 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$2.21 a share, 176% above its 1-year low
Over the past year the price has ranged from $0.80 to $3.44.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: a shortfall of $11 million in the past 12 months, a shortfall of $21 million in the year to December 2025.
| Revenue | |||||
| Revenue | $55m | $65m | $71m | $75m | $149m |
| Operating margin | |||||
| Operating margin | -49.8% | -53.8% | -42.8% | -46.2% | -21.1% |
| Debt to equity | |||||
| Debt to equity | 0.41 | 0.63 | 1.73 | 1.99 | 2.94 |
| Shares outstanding | |||||
| Shares outstanding | 0.03bn | 0.03bn | 0.03bn | 0.07bn | 0.08bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)3 of 9
- Profit backed by cash (accruals)No
- Debt2.94× equity
- Revenue growth, five yearsStrong, 24.8% a year
- Buying back its own sharesNo, 180% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $42 million last quarter, up 9% on a year ago.
- A loss of $3 million, compared with a loss of $10 million a year ago.
- It loses 15 cents on each $1 of sales, compared with 34 cents a year earlier.
- Over the past 12 months it spent $11 million more cash than it brought in, compared with $35 million a year earlier.
- 11% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $42 million more than cash, down from $45 million a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $19m |
| December 2024 | $22m |
| March 2025 | $32m |
| June 2025 | $38m |
| September 2025 | $37m |
| December 2025 | $42m |
| March 2026 | $34m |
| June 2026 | $42m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$13m |
| December 2024 | -$13m |
| March 2025 | -$13m |
| June 2025 | -$10m |
| September 2025 | -$9m |
| December 2025 | -$7m |
| March 2026 | -$11m |
| June 2026 | -$3m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 17 March 2026
- Next quarterly (estimated, 10-Q)
- 10 November 2026
Who owns it
1 long-term investor we follow owns it, unchanged from 1 last quarter. 87 funds in all.
- GAMCO InvestorsMario Gabelli
- Value
- $102,960
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| GAMCO InvestorsMario Gabelli | $102,960 | <0.1% |
Largest holders overall
- Madryn Asset Management, LP$24m
- UBS Group AG$3mCut
- Wexford Capital LP$3mAdded
- FourWorld Capital Management$2mAdded
- Lane Generational$2mCut
- Vanguard Capital Management$2mCut
- Masters Capital Management$1m
- AdvisorShares Investments$965,634Added
- Ikarian Capital$911,537
- BlackRock$775,608Cut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%; 1 of them is pushing for change.
- MADRYN ASSET MANAGEMENT, LPPassive investorat least 30.3%−1.1 pts(filed with 7 related holders)Since 2 March 2026
- Chernett JoreyActivist13.9%−1.3 ptsSince 14 August 2026
- Parian Ultreia LPPassive investor7.0%Since 17 March 2026
- Point72 Asset Management, L.P.Passive investorat least 5.0%(filed with 2 related holders)Since 13 August 2026
- Kent Lake PR LLCPassive investorSold down below 5%Since 31 December 2024
| Holder | Stake | Since | |
|---|---|---|---|
MADRYN ASSET MANAGEMENT, LP Passive investor | at least 30.3%−1.1 pts (filed with 7 related holders) | 2 March 2026 | |
Chernett Jorey Activist | 13.9%−1.3 pts | 14 August 2026 | |
Parian Ultreia LP Passive investor | 7.0% | 17 March 2026 | |
Point72 Asset Management, L.P. Passive investor | at least 5.0% (filed with 2 related holders) | 13 August 2026 | |
Kent Lake PR LLC Passive investor | Sold down below 5% | 31 December 2024 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 3 sold $197,842.
- Pfanstiel StevenFormer EVP, CFO and TreasurerSold
- Date
- 19 March 2026
- Shares
- 8,569
- Price
- $1.34
- Value
- $11,482
- MACAN WILLIAM ANDREWEVP, CLO and CSSold
- Date
- 19 March 2026
- Shares
- 16,005
- Price
- $1.34
- Value
- $21,447
- MACAN WILLIAM ANDREWEVP, CLO and CSSold
- Date
- 4 March 2026
- Shares
- 609
- Price
- $1.34
- Value
- $816
- MACAN WILLIAM ANDREWEVP, CLO and CSSold
- Date
- 26 February 2026
- Shares
- 3,427
- Price
- $1.35
- Value
- $4,626
- Sullivan Keith JPresident and CEO, DirectorSold
- Date
- 26 February 2026
- Shares
- 8,452
- Price
- $1.35
- Value
- $11,410
- Sullivan Keith JPresident and CEO, DirectorSold
- Date
- 12 February 2026
- Shares
- 33,847
- Price
- $1.65
- Value
- $55,848
- MACAN WILLIAM ANDREWEVP, CLO and CSSold
- Date
- 12 February 2026
- Shares
- 14,120
- Price
- $1.65
- Value
- $23,298
- MACAN WILLIAM ANDREWEVP, CLO and CSSold
- Date
- 10 February 2026
- Shares
- 3,485
- Price
- $1.55
- Value
- $5,402
- Sullivan Keith JPresident and CEO, DirectorSold
- Date
- 10 February 2026
- Shares
- 40,976
- Price
- $1.55
- Value
- $63,513
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 19 March 2026 | Pfanstiel Steven Former EVP, CFO and Treasurer | Sold | 8,569 | $1.34 | $11,482 |
| 19 March 2026 | MACAN WILLIAM ANDREW EVP, CLO and CS | Sold | 16,005 | $1.34 | $21,447 |
| 4 March 2026 | MACAN WILLIAM ANDREW EVP, CLO and CS | Sold | 609 | $1.34 | $816 |
| 26 February 2026 | MACAN WILLIAM ANDREW EVP, CLO and CS | Sold | 3,427 | $1.35 | $4,626 |
| 26 February 2026 | Sullivan Keith J President and CEO, Director | Sold | 8,452 | $1.35 | $11,410 |
| 12 February 2026 | Sullivan Keith J President and CEO, Director | Sold | 33,847 | $1.65 | $55,848 |
| 12 February 2026 | MACAN WILLIAM ANDREW EVP, CLO and CS | Sold | 14,120 | $1.65 | $23,298 |
| 10 February 2026 | MACAN WILLIAM ANDREW EVP, CLO and CS | Sold | 3,485 | $1.55 | $5,402 |
| 10 February 2026 | Sullivan Keith J President and CEO, Director | Sold | 40,976 | $1.55 | $63,513 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- It carries a lot of debt: 2.9× its equity.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.