Stereotaxis (NYSEAMERICAN:STXS) Stock Price Down 1.8% - Here's Why

Key Points

• Stereotaxis shares fell 1.8% to $1.11, trading below both their 50-day ($1.34) and 200-day ($1.64) moving averages, with roughly 560,344 shares changing hands.
• Analysts remain broadly bullish, with five Buy ratings and a consensus price target of $3.50, although TD Cowen and Citizens JMP recently lowered their targets to $3.00.
• The company met quarterly EPS expectations at a loss of $0.05 per share, but revenue of $7.67 million missed the $8.35 million consensus; Stereotaxis continues to report substantial losses and analysts project full-year EPS of -$0.22.

Stereotaxis Inc. (NYSEAMERICAN:STXS - Get Free Report)'s share price was down 1.8% during trading on Thursday. The company traded as low as $1.09 and last traded at $1.11. Approximately 560,344 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 534,283 shares. The stock had previously closed at $1.13.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STXS. TD Cowen cut their price objective on shares of Stereotaxis from $5.00 to $3.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Citigroup reiterated an "outperform" rating on shares of Stereotaxis in a research note on Thursday, August 27th. Finally, Citizens Jmp dropped their target price on shares of Stereotaxis from $4.00 to $3.00 and set a "market outperform" rating on the stock in a research report on Thursday, August 27th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $3.50.

Stereotaxis Stock Performance

The stock has a 50 day moving average of $1.34 and a 200-day moving average of $1.64. The company has a market cap of $111.22 million, a PE ratio of -4.62 and a beta of 1.37.

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, meeting 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 for the quarter, compared to the consensus estimate of $8.35 million. Equities research analysts forecast that Stereotaxis Inc. will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Stereotaxis

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new stake in Stereotaxis during the 2nd quarter valued at approximately $364,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Stereotaxis in the first quarter worth $700,000. Finally, Sei Investments Co. raised its holdings in shares of Stereotaxis by 108.9% during 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. Institutional investors and hedge funds own 45.35% of the company's stock.

Stereotaxis Company Profile

Stereotaxis, Inc develops robotic systems and related technologies for minimally invasive cardiovascular procedures. Its primary focus is the treatment of cardiac arrhythmias, including atrial fibrillation and ventricular tachycardia, through catheter-based electrophysiology procedures.

The company's product portfolio includes robotic magnetic navigation systems, such as the Genesis and Niobe platforms, which use computer-controlled magnets to guide specialized catheters through the heart.

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