Stereotaxis (NYSEAMERICAN:STXS) Stock Gets Price Target Reduction from TD Cowen

Stereotaxis (NYSEAMERICAN:STXS) had its price target lowered by TD Cowen from $3.00 to $2.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

STXS has been the topic of several other reports. Citizens Jmp lowered 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. Citigroup reiterated an “outperform” rating on shares of Stereotaxis in a research note on Thursday, August 27th. Four analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Stereotaxis presently has a consensus rating of “Buy” and an average price target of $2.83.

Stereotaxis Trading Down 0.8%

NYSEAMERICAN:STXS opened at $0.84 on Wednesday. The stock has a market capitalization of $84.49 million, a PE ratio of -3.51 and a beta of 1.40. Stereotaxis has a 1-year low of $0.80 and a 1-year high of $2.86. The firm has a fifty day simple moving average of $1.13 and a 200 day simple moving average of $1.63.

Stereotaxis (NYSEAMERICAN:STXS) last posted its quarterly earnings results on Tuesday, November 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $8.93 million for the quarter, compared to the consensus estimate of $9.60 million. Stereotaxis had a negative return on equity of 144.02% and a negative net margin of 70.86%. On average, equities analysts predict that Stereotaxis will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stereotaxis

Several hedge funds have recently added to or reduced their stakes in the business. Integrity Alliance LLC. acquired a new position in Stereotaxis in the 3rd quarter valued at about $860,000. Sequoia Financial Advisors LLC acquired a new position in shares of Stereotaxis in the first quarter valued at about $700,000. Sei Investments Co. increased its position in 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 acquiring an additional 270,443 shares during the period. Bank of New York Mellon Corp bought a new position in Stereotaxis during the second quarter worth about $364,000. Finally, Empowered Funds LLC bought a new position in Stereotaxis during the third quarter worth about $154,000. Institutional investors and hedge funds own 45.35% of the company’s stock.

Stereotaxis Company Profile

Stereotaxis develops robotic technologies for minimally invasive procedures, with a focus on treating heart rhythm disorders. Its systems are designed to help physicians guide catheters through blood vessels and within the heart during procedures such as cardiac ablation. The company’s products include the Genesis Robotic Magnetic Navigation System, which uses externally controlled magnetic fields to steer compatible catheters, and the Odyssey platform for managing and displaying information in interventional procedure rooms.