Stereotaxis (NYSEAMERICAN:STXS) Shares Down 2.2% – Should You Sell?

Stereotaxis Inc. (NYSEAMERICAN:STXS)’s stock price dropped 2.2% during mid-day trading on Monday . The company traded as low as $1.76 and last traded at $1.78. Approximately 450,904 shares changed hands during trading, a decline of 5% from the average daily volume of 475,293 shares. The stock had previously closed at $1.82.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on STXS shares. Citizens Jmp assumed coverage on shares of Stereotaxis in a research note on Tuesday, December 16th. They issued a “market outperform” rating and a $4.00 price objective for the company. Citigroup assumed coverage on shares of Stereotaxis in a research note on Tuesday, December 16th. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $4.00.

Stereotaxis Trading Up 0.5%

The business’s fifty day moving average price is $2.09 and its 200 day moving average price is $2.47. The firm has a market capitalization of $179.91 million, a price-to-earnings ratio of -7.40 and a beta of 1.38.

Stereotaxis (NYSEAMERICAN:STXS) last issued its quarterly earnings results on Monday, March 9th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). Stereotaxis had a negative net margin of 66.85% and a negative return on equity of 291.99%. The firm had revenue of $8.64 million during the quarter, compared to analysts’ expectations of $9.24 million. As a group, sell-side analysts forecast that Stereotaxis Inc. will post -0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stereotaxis

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in Stereotaxis by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,478,201 shares of the company’s stock valued at $3,135,000 after acquiring an additional 13,891 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Stereotaxis by 223.7% in the 2nd quarter. Rhumbline Advisers now owns 148,913 shares of the company’s stock valued at $316,000 after purchasing an additional 102,916 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Stereotaxis in the second quarter valued at approximately $78,000. Cherry Creek Investment Advisors Inc. increased its holdings in shares of Stereotaxis by 52.4% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 54,665 shares of the company’s stock valued at $170,000 after purchasing an additional 18,799 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Stereotaxis during the third quarter worth approximately $413,000. Hedge funds and other institutional investors own 45.35% of the company’s stock.

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.