Stereotaxis (NYSEAMERICAN:STXS) Shares Down 1.8% – Here’s Why

Stereotaxis Inc. (NYSEAMERICAN:STXS) shares traded down 1.8% on Thursday. The stock traded as low as $1.09 and last traded at $1.11. 560,344 shares traded hands during trading, an increase of 5% from the average daily volume of 534,283 shares. The stock had previously closed at $1.13.

Analyst Ratings Changes

Several equities analysts have recently issued reports on STXS shares. Citigroup reissued an “outperform” rating on shares of Stereotaxis in a report on Thursday, August 27th. TD Cowen dropped their target price on 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 target on Stereotaxis from $4.00 to $3.00 and set a “market outperform” rating for the company in a research report on Thursday, August 27th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $3.50.

Stereotaxis Price Performance

The stock has a market capitalization of $111.22 million, a PE ratio of -4.62 and a beta of 1.37. The stock’s fifty day moving average is $1.34 and its 200-day moving average is $1.64.

Stereotaxis (NYSEAMERICAN:STXS) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $7.67 million during the quarter, compared to analysts’ expectations of $8.35 million. Stereotaxis had a negative net margin of 74.24% and a negative return on equity of 130.84%. On average, analysts forecast that Stereotaxis Inc. will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Stereotaxis

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new stake in Stereotaxis in the second quarter valued at approximately $364,000. Sei Investments Co. raised its stake in shares of Stereotaxis by 108.9% during the 1st quarter. Sei Investments Co. now owns 518,884 shares of the company’s stock worth $955,000 after buying an additional 270,443 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Stereotaxis during the 1st quarter worth approximately $700,000. Institutional investors and hedge funds own 45.35% of the company’s stock.

Stereotaxis Company Profile

Stereotaxis, Inc develops robotic systems and related technologies for minimally invasive cardiovascular procedures. Its primary focus is the treatment of cardiac arrhythmias, including atrial fibrillation and ventricular tachycardia, through catheter-based electrophysiology procedures.

The company’s product portfolio includes robotic magnetic navigation systems, such as the Genesis and Niobe platforms, which use computer-controlled magnets to guide specialized catheters through the heart.