Stereotaxis (NYSEAMERICAN:STXS) Trading Down 2.3% - Here's Why

Key Points

• Stereotaxis shares fell 2.3% to $1.29, with trading volume reaching 598,312 shares—24% above the average session volume.
• Analysts remain broadly positive, with five Buy ratings and a consensus rating of “Buy,” although Citizens JMP and TD Cowen lowered their price targets to $3.00. The average analyst price target is $3.50.
• The company reported quarterly revenue of $7.67 million, below the $8.35 million estimate, while posting a loss of $0.05 per share in line with expectations. Institutional investors own approximately 45.35% of the stock.

Stereotaxis Inc. (NYSEAMERICAN:STXS - Get Free Report)'s share price fell 2.3% during trading on Thursday . The stock traded as low as $1.29 and last traded at $1.29. 598,312 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 481,507 shares. The stock had previously closed at $1.32.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citizens Jmp cut their price target on shares of Stereotaxis from $4.00 to $3.00 and set a "market outperform" rating for the company in a report on Thursday, August 27th. Citigroup reiterated an "outperform" rating on shares of Stereotaxis in a report on Thursday, August 27th. Finally, TD Cowen cut their target price on shares of Stereotaxis from $5.00 to $3.00 and set a "buy" rating for the company in a research note 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 a consensus rating of "Buy" and an average price target of $3.50.

Stereotaxis Trading Down 2.3%

The stock has a 50-day moving average of $1.41 and a two-hundred day moving average of $1.72. The firm has a market cap of $129.26 million, a price-to-earnings ratio of -5.37 and a beta of 1.43.

Stereotaxis (NYSEAMERICAN:STXS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, meeting analysts' consensus estimates of ($0.05). Stereotaxis had a negative net margin of 74.24% and a negative return on equity of 130.84%. The company had revenue of $7.67 million during the quarter, compared to analyst estimates of $8.35 million. Sell-side analysts expect that Stereotaxis Inc. will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Stereotaxis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legato Capital Management LLC boosted its position in shares of Stereotaxis by 9.6% in the fourth quarter. Legato Capital Management LLC now owns 504,506 shares of the company's stock worth $1,160,000 after buying an additional 44,207 shares during the period. Leonteq Securities AG acquired a new position in Stereotaxis during the fourth quarter valued at $172,000. Bank of New York Mellon Corp purchased a new stake in Stereotaxis in the 2nd quarter worth about $364,000. Sei Investments Co. lifted its stake in Stereotaxis by 108.9% in the 1st quarter. Sei Investments Co. now owns 518,884 shares of the company's stock worth $955,000 after acquiring an additional 270,443 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in Stereotaxis during the 1st quarter worth about $700,000. Institutional investors and hedge funds own 45.35% of the company's stock.

About Stereotaxis

Stereotaxis, Inc develops robotic technologies for the treatment of cardiac arrhythmias and other conditions addressed through minimally invasive endovascular procedures. Its systems are designed to help physicians navigate specialized catheters through the cardiovascular system with computerized control and magnetic guidance, supporting procedures such as electrophysiology studies and catheter ablation.

The company's portfolio includes the Genesis Robotic Magnetic Navigation system, which uses externally controlled magnetic fields to guide compatible catheters, as well as related workflow, visualization and information-management technologies.

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