TD Cowen Has Lowered Expectations for Stereotaxis (NYSEAMERICAN:STXS) Stock Price

Key Points

• TD Cowen lowered Stereotaxis’ price target from $5.00 to $3.00 while maintaining a “buy” rating, implying roughly 118% upside from the stock’s $1.38 price.
• Analyst sentiment remains positive overall: five analysts rate the stock a Buy, with an average price target of $3.70; Piper Sandler also reduced its target to $3.50 while retaining an overweight rating.
• Stereotaxis shares have traded between $1.24 and $3.59 over the past year, and institutional investors and hedge funds own approximately 45.35% of the company.

Stereotaxis (NYSEAMERICAN:STXS - Get Free Report) had its price target lowered by analysts at TD Cowen from $5.00 to $3.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price objective indicates a potential upside of 118.18% from the company's current price.

Several other research analysts have also weighed in on the company. Citigroup reaffirmed a "market outperform" rating on shares of Stereotaxis in a research report on Wednesday, June 3rd. Piper Sandler reiterated an "overweight" rating and set a $3.50 price target (down from $4.00) on shares of Stereotaxis in a report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Stereotaxis currently has an average rating of "Buy" and an average price target of $3.70.

Stereotaxis Stock Performance

Shares of NYSEAMERICAN STXS traded down $0.09 during mid-day trading on Wednesday, reaching $1.38. The company had a trading volume of 696,919 shares, compared to its average volume of 604,006. Stereotaxis has a twelve month low of $1.24 and a twelve month high of $3.59. The stock's 50 day moving average is $1.63 and its 200-day moving average is $1.87. The stock has a market capitalization of $134.65 million, a PE ratio of -5.73 and a beta of 1.37.

Hedge Funds Weigh In On Stereotaxis

Hedge funds have recently bought and sold shares of the business. WealthPLAN Partners LLC bought a new position in Stereotaxis during the fourth quarter valued at about $29,000. SG Americas Securities LLC bought a new stake in shares of Stereotaxis during the 4th quarter worth about $33,000. BNP Paribas Financial Markets increased its holdings in shares of Stereotaxis by 106.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,461 shares of the company's stock valued at $36,000 after acquiring an additional 5,910 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Stereotaxis during the 3rd quarter valued at about $38,000. Finally, HRT Financial LP bought a new position in shares of Stereotaxis in the 4th quarter valued at approximately $42,000. 45.35% of the stock is owned by institutional investors and hedge funds.

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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