Citizens Jmp Issues Pessimistic Forecast for Stereotaxis (NYSEAMERICAN:STXS) Stock Price

Key Points

• Citizens JMP lowered Stereotaxis’ price target from $4.00 to $3.00 while maintaining a “market outperform” rating, implying roughly 101% upside from the prior close.
• Other analysts also reduced their targets, but sentiment remains positive: five analysts rate the stock a Buy, with a consensus target of $3.50.
• Stereotaxis shares rose 3.1% to $1.50, despite weak fundamentals: quarterly revenue of $7.67 million missed estimates, and the company reported negative margins and return on equity.

Stereotaxis (NYSEAMERICAN:STXS - Get Free Report) had its price target decreased by stock analysts at Citizens Jmp from $4.00 to $3.00 in a report released on Thursday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. Citizens Jmp's target price indicates a potential upside of 100.67% from the stock's previous close.

Several other brokerages also recently commented on STXS. Piper Sandler reaffirmed an "overweight" rating and set a $3.50 target price (down from $4.00) on shares of Stereotaxis in a report on Wednesday, May 13th. Citigroup reaffirmed an "outperform" rating on shares of Stereotaxis in a research report on Thursday. Finally, TD Cowen dropped their price target on Stereotaxis from $5.00 to $3.00 and set a "buy" rating on the stock in a research report on Wednesday, August 12th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $3.50.

Stereotaxis Stock Up 3.1%

Shares of Stereotaxis stock traded up $0.04 on Thursday, hitting $1.50. 65,528 shares of the company traded hands, compared to its average volume of 601,109. Stereotaxis has a 12-month low of $1.24 and a 12-month high of $3.59. The company has a market cap of $149.80 million, a PE ratio of -6.19 and a beta of 1.37. The company has a 50-day moving average price of $1.54 and a 200 day moving average price of $1.80.

Stereotaxis (NYSEAMERICAN:STXS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Stereotaxis had a negative return on equity of 130.84% and a negative net margin of 74.24%.The business had revenue of $7.67 million during the quarter, compared to analyst estimates of $8.35 million. Equities research analysts anticipate that Stereotaxis will post -0.22 EPS for the current year.

Institutional Trading of Stereotaxis

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in shares of Stereotaxis during the second quarter worth about $364,000. Sei Investments Co. lifted its position in Stereotaxis by 108.9% during the 1st quarter. Sei Investments Co. now owns 518,884 shares of the company's stock valued at $955,000 after purchasing an additional 270,443 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Stereotaxis in the first quarter valued at approximately $700,000. Bridgeway Capital Management LLC lifted its stake in shares of Stereotaxis by 56.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 221,475 shares of the company's stock valued at $509,000 after purchasing an additional 80,075 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in Stereotaxis by 47.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 17,801 shares of the company's stock worth $41,000 after buying an additional 5,692 shares during the last quarter. Hedge funds and other institutional investors own 45.35% of the company's stock.

About Stereotaxis

Stereotaxis, Inc is a medical device company that develops and commercializes robotic magnetic navigation systems for use in electrophysiology procedures. Its core technology leverages precisely controlled magnetic fields to guide ultra-thin, magnetically enabled catheters through the vascular system, allowing physicians to perform complex cardiac ablation and diagnostic procedures with enhanced precision and stability. This platform aims to reduce procedure times and radiation exposure for both patients and clinical staff.

The company's flagship offering, the Niobe Magnetic Navigation System, integrates with a variety of catheter types and electrophysiology mapping systems to support treatment of arrhythmias such as atrial fibrillation and ventricular tachycardia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source