Stereotaxis (NYSEAMERICAN:STXS) Trading 3.7% Higher – Here’s What Happened

Stereotaxis Inc. (NYSEAMERICAN:STXS)’s stock price traded up 3.7% during trading on Friday . The company traded as high as $1.69 and last traded at $1.68. Approximately 2,360,269 shares were traded during trading, an increase of 522% from the average session volume of 379,306 shares. The stock had previously closed at $1.62.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $3.50 target price (down from $4.00) on shares of Stereotaxis in a research report on Wednesday, May 13th. Citigroup reissued a “market outperform” rating on shares of Stereotaxis in a research report on Wednesday, June 3rd. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $3.88.

Stereotaxis Trading Up 3.7%

The firm has a market cap of $164.20 million, a P/E ratio of -7.00 and a beta of 1.35. The company’s fifty day moving average price is $1.87 and its two-hundred day moving average price is $2.08.

Institutional Trading of Stereotaxis

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Stereotaxis by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,478,201 shares of the company’s stock worth $3,135,000 after acquiring an additional 13,891 shares in the last quarter. Rhumbline Advisers increased its holdings in Stereotaxis by 223.7% during 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 in the last quarter. Jane Street Group LLC acquired a new stake in Stereotaxis during the 2nd quarter valued at $78,000. Envestnet Asset Management Inc. bought a new position in Stereotaxis in the 3rd quarter valued at $413,000. Finally, Vanguard Group Inc. raised its position in Stereotaxis by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,441,091 shares of the company’s stock valued at $10,702,000 after purchasing an additional 138,482 shares during the last quarter. Institutional investors and hedge funds own 45.35% of the company’s stock.

About Stereotaxis

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.