Stereotaxis (NYSEAMERICAN:STXS) Stock Price Target Lowered at TD Cowen

Stereotaxis (NYSEAMERICAN:STXS) had its price objective decreased by research analysts at TD Cowen from $3.00 to $2.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen‘s price objective would indicate a potential upside of 130.41% from the company’s previous close.

STXS has been the topic of several other research reports. Citizens Jmp dropped their target price on shares of Stereotaxis from $4.00 to $3.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 27th. Citigroup reaffirmed an “outperform” rating on shares of Stereotaxis in a report on Thursday, August 27th. Five equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Stereotaxis presently has an average rating of “Buy” and an average target price of $3.12.

Stereotaxis Price Performance

NYSEAMERICAN STXS traded down $0.16 during trading on Wednesday, hitting $0.87. The company’s stock had a trading volume of 1,596,659 shares, compared to its average volume of 610,895. The company has a market cap of $86.97 million, a PE ratio of -3.62 and a beta of 1.40. The business’s 50 day simple moving average is $1.16 and its 200-day simple moving average is $1.66. Stereotaxis has a fifty-two week low of $0.80 and a fifty-two week high of $2.86.

Stereotaxis (NYSEAMERICAN:STXS) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). Stereotaxis had a negative return on equity of 130.84% and a negative net margin of 74.24%. The business had revenue of $8.93 million for the quarter, compared to analysts’ expectations of $9.60 million. Analysts expect that Stereotaxis will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Stereotaxis

A number of institutional investors have recently bought and sold shares of the business. Sei Investments Co. lifted its stake in Stereotaxis by 108.9% during the 1st quarter. Sei Investments Co. now owns 518,884 shares of the company’s stock valued at $955,000 after acquiring an additional 270,443 shares during the period. Integrity Alliance LLC. acquired a new stake in shares of Stereotaxis in the third quarter worth $860,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Stereotaxis in the first quarter worth $700,000. Bank of New York Mellon Corp purchased a new position in shares of Stereotaxis during the second quarter worth $364,000. Finally, R Squared Ltd raised its holdings in shares of Stereotaxis by 262.7% during the third quarter. R Squared Ltd now owns 49,784 shares of the company’s stock worth $61,000 after purchasing an additional 36,057 shares during the last quarter. 45.35% of the stock is owned by hedge funds and other 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.