Stereotaxis (NYSEAMERICAN:STXS) Stock Price Down 6.2% – What’s Next?

Stereotaxis Inc. (NYSEAMERICAN:STXS)’s stock price dropped 6.2% during trading on Thursday. The stock traded as low as $0.91 and last traded at $0.91. 810,452 shares traded hands during trading, an increase of 41% from the average daily volume of 574,679 shares. The stock had previously closed at $0.9703.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STXS. Citizens Jmp cut their target price on 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 reaffirmed an “outperform” rating on shares of Stereotaxis in a research report on Thursday, August 27th. Finally, TD Cowen dropped their price objective on Stereotaxis from $5.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $3.50.

Stereotaxis Trading Down 6.2%

The firm has a market capitalization of $91.18 million, a P/E ratio of -3.79 and a beta of 1.37. The company’s fifty day simple moving average is $1.23 and its 200 day simple moving average is $1.73.

Stereotaxis (NYSEAMERICAN:STXS) last announced its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $7.67 million for the quarter, compared to analyst estimates 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 predict that Stereotaxis Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stereotaxis

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in Stereotaxis in the second quarter worth $364,000. Sei Investments Co. grew its position in shares of Stereotaxis by 108.9% in 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 purchased a new position in Stereotaxis during the 1st quarter valued at about $700,000. 45.35% of the stock is currently owned by institutional investors.

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.