Stereotaxis (NYSEAMERICAN:STXS) Stock Price Down 2.2% - Here's What Happened

Key Points

• Stereotaxis shares fell 2.2% to $1.78 intraday, trading as low as $1.76 on volume of ~450,904 shares (about 5% below the average session volume).
• Analyst coverage has turned positive—Citizens JMP and Citigroup initiated with "market outperform"/"outperform", and the consensus from three analysts is a $4.00 price target (average rating: Buy).
• The company remains unprofitable with a $173.1M market cap, negative PE, quarterly EPS of ($0.06) on $8.64M revenue (vs. $9.24M expected), and a negative ROE/net margin, while institutional investors own about 45.35% of the stock.

Stereotaxis Inc. (NYSEAMERICAN:STXS - Get Free Report) traded down 2.2% during mid-day trading on Monday . The stock traded as low as $1.76 and last traded at $1.78. 450,904 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 475,293 shares. The stock had previously closed at $1.82.

Wall Street Analysts Forecast Growth

STXS has been the subject of several recent analyst reports. Citizens Jmp assumed coverage on Stereotaxis in a report on Tuesday, December 16th. They set a "market outperform" rating and a $4.00 price objective for the company. Citigroup assumed coverage on Stereotaxis in a research note on Tuesday, December 16th. They issued an "outperform" rating on the stock. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $4.00.

Stereotaxis Stock Performance

The company has a market cap of $173.11 million, a PE ratio of -7.12 and a beta of 1.38. The business's 50-day moving average is $2.11 and its 200 day moving average is $2.48.

Stereotaxis (NYSEAMERICAN:STXS - Get Free Report) last announced its quarterly earnings results on Monday, March 9th. The company reported ($0.06) EPS for the quarter, hitting analysts' consensus estimates of ($0.06). The business had revenue of $8.64 million for the quarter, compared to analysts' expectations of $9.24 million. Stereotaxis had a negative return on equity of 291.99% and a negative net margin of 66.85%. Equities research analysts anticipate that Stereotaxis Inc. will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Stereotaxis

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in Stereotaxis by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,478,201 shares of the company's stock valued at $3,135,000 after purchasing an additional 13,891 shares during the period. Rhumbline Advisers boosted its position in shares of Stereotaxis by 223.7% during the second quarter. Rhumbline Advisers now owns 148,913 shares of the company's stock valued at $316,000 after purchasing an additional 102,916 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Stereotaxis in the 2nd quarter worth about $78,000. Cherry Creek Investment Advisors Inc. grew its holdings in Stereotaxis by 52.4% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 54,665 shares of the company's stock worth $170,000 after purchasing an additional 18,799 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in shares of Stereotaxis during the third quarter valued at approximately $413,000. 45.35% of the stock is owned by hedge funds and other institutional investors.

Stereotaxis Company Profile

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.

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