TD Cowen Issues Pessimistic Forecast for Stereotaxis (NYSEAMERICAN:STXS) Stock Price

Key Points

• TD Cowen cut its price target for Stereotaxis from $3 to $2 but maintained a Buy rating; the new target implies 130.4% upside from the stock’s $0.87 price.
• Analyst sentiment remains broadly positive: five analysts rate the stock Buy, with a consensus price target of $3.12.
• Stereotaxis missed quarterly estimates, reporting a $0.07 loss per share and $8.93 million in revenue, below consensus forecasts of a $0.05 loss and $9.60 million in revenue.

Stereotaxis (NYSEAMERICAN:STXS - Get Free Report) had its price objective lowered by research analysts at TD Cowen from $3.00 to $2.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's target price suggests a potential upside of 130.41% from the stock's current price.

A number of other equities analysts also recently issued reports on the company. Citigroup reissued an "outperform" rating on shares of Stereotaxis in a research report on Thursday, August 27th. Citizens Jmp lowered their price objective on shares of Stereotaxis from $4.00 to $3.00 and set a "market outperform" rating for the company in a research note on Thursday, August 27th. Five research analysts have rated the stock with a Buy rating. According to MarketBeat, Stereotaxis presently has a consensus rating of "Buy" and a consensus price target of $3.12.

Stereotaxis Price Performance

STXS stock traded down $0.16 during mid-day trading on Wednesday, reaching $0.87. The company had a trading volume of 1,596,659 shares, compared to its average volume of 610,895. The company has a market capitalization of $86.97 million, a PE ratio of -3.62 and a beta of 1.40. The firm has a 50 day moving average of $1.16 and a 200 day moving average of $1.66. Stereotaxis has a 12 month low of $0.80 and a 12 month high of $2.86.

Stereotaxis (NYSEAMERICAN:STXS - Get Free Report) last posted its quarterly earnings results on Tuesday, November 10th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Stereotaxis had a negative net margin of 74.24% and a negative return on equity of 130.84%. The company had revenue of $8.93 million for the quarter, compared to the consensus estimate of $9.60 million. Analysts anticipate that Stereotaxis will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Integrity Alliance LLC. purchased a new stake in Stereotaxis during the third quarter valued at approximately $860,000. Sequoia Financial Advisors LLC purchased a new position in Stereotaxis in the first quarter worth $700,000. Sei Investments Co. grew its holdings in Stereotaxis by 108.9% in the first quarter. Sei Investments Co. now owns 518,884 shares of the company's stock worth $955,000 after purchasing an additional 270,443 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Stereotaxis during the second quarter worth $364,000. Finally, R Squared Ltd increased its position in shares of Stereotaxis by 262.7% during the third quarter. R Squared Ltd now owns 49,784 shares of the company's stock worth $61,000 after purchasing an additional 36,057 shares in the last quarter. Hedge funds and other institutional investors own 45.35% of the company's stock.

About Stereotaxis

Stereotaxis, Inc. develops robotic technologies for minimally invasive endovascular procedures, with a primary focus on cardiac electrophysiology. Its systems use magnetic navigation and specialized software to help physicians control guidewires and catheters during procedures such as the treatment of cardiac arrhythmias. The company's product portfolio includes the Genesis Robotic Magnetic Navigation System, which is designed to provide precise catheter movement and navigation within the heart.

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