Stereotaxis (NYSEAMERICAN:STXS) Issues Earnings Results, Hits Expectations

Stereotaxis (NYSEAMERICAN:STXS) released its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05), FiscalAI reports. Stereotaxis had a negative net margin of 74.24% and a negative return on equity of 130.84%. The business had revenue of $8.93 million during the quarter, compared to analyst estimates of $9.60 million.

Stereotaxis Stock Down 9.6%

STXS stock traded down $0.11 during midday trading on Tuesday, reaching $1.03. The company had a trading volume of 733,072 shares, compared to its average volume of 607,601. The firm has a market capitalization of $103.21 million, a PE ratio of -4.29 and a beta of 1.40. The stock has a 50 day moving average price of $1.17 and a 200 day moving average price of $1.67. Stereotaxis has a fifty-two week low of $0.80 and a fifty-two week high of $2.89.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup reissued an “outperform” rating on shares of Stereotaxis in a research report on Thursday, August 27th. TD Cowen cut their price target 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. Finally, Citizens Jmp reduced their price objective on shares of Stereotaxis from $4.00 to $3.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 27th. Five investment analysts have rated the stock with a Buy rating. According to MarketBeat, Stereotaxis currently has an average rating of “Buy” and an average target price of $3.38.

About Stereotaxis

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.