Stereotaxis (NYSEAMERICAN:STXS) Stock Falls 6.2% - What's Next?

Key Points

• Stereotaxis shares fell 6.2% to $0.91 in heavy trading, with volume about 41% above the daily average. The stock remains below its 50-day and 200-day moving averages.
• Analysts remain broadly positive, with five Buy ratings and an average price target of $3.50, despite recent target cuts by Citizens JMP and TD Cowen to $3.00.
• The company met quarterly EPS expectations at a loss of $0.05 per share, but revenue of $7.67 million missed estimates of $8.35 million. Stereotaxis continues to report significant losses, including a negative net margin of 74.24%.

Shares of Stereotaxis Inc. (NYSEAMERICAN:STXS - Get Free Report) dropped 6.2% during trading on Thursday. The company traded as low as $0.91 and last traded at $0.91. Approximately 810,452 shares changed hands during mid-day trading, an increase of 41% from the average daily volume of 574,679 shares. The stock had previously closed at $0.9703.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citigroup restated an "outperform" rating on shares of Stereotaxis in a research report on Thursday, August 27th. Citizens Jmp decreased their price target on shares of Stereotaxis from $4.00 to $3.00 and set a "market outperform" rating on the stock in a report on Thursday, August 27th. Finally, TD Cowen dropped their price objective on shares of Stereotaxis from $5.00 to $3.00 and set a "buy" rating for the company in a report on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating. According to data from MarketBeat, Stereotaxis currently has an average rating of "Buy" and an average target price of $3.50.

Stereotaxis Trading Down 6.2%

The stock has a market capitalization of $91.18 million, a P/E ratio of -3.79 and a beta of 1.37. The stock's fifty day moving average price is $1.23 and its two-hundred day moving average price is $1.73.

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

Hedge Funds Weigh In On Stereotaxis

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new stake in shares of Stereotaxis during the second quarter valued at approximately $364,000. Sei Investments Co. increased its stake in shares of 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 buying an additional 270,443 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in Stereotaxis during the 1st quarter valued at $700,000. 45.35% of the stock is owned by hedge funds and other institutional investors.

Stereotaxis Company Profile

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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