Citizens Jmp Cuts Stereotaxis (NYSEAMERICAN:STXS) Price Target to $3.00

Stereotaxis (NYSEAMERICAN:STXS) had its price target trimmed by Citizens Jmp from $4.00 to $3.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

STXS has been the subject of a number of other reports. Piper Sandler reissued an “overweight” rating and set a $3.50 price target (down from $4.00) on shares of Stereotaxis in a research report on Wednesday, May 13th. Citigroup restated an “outperform” rating on shares of Stereotaxis in a report on Thursday. Finally, TD Cowen decreased their target price on shares of Stereotaxis from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Stereotaxis has an average rating of “Buy” and an average target price of $3.50.

Stereotaxis Trading Down 1.4%

STXS opened at $1.45 on Thursday. The stock has a fifty day simple moving average of $1.52 and a two-hundred day simple moving average of $1.79. The company has a market cap of $145.29 million, a price-to-earnings ratio of -6.04 and a beta of 1.37. Stereotaxis has a 12-month low of $1.24 and a 12-month high of $3.59.

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

Hedge Funds Weigh In On Stereotaxis

Several institutional investors and hedge funds have recently modified their holdings of STXS. Bank of New York Mellon Corp bought a new position in Stereotaxis in the 2nd quarter worth about $364,000. Sei Investments Co. increased 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 purchasing an additional 270,443 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Stereotaxis during the 1st quarter valued at about $700,000. Bridgeway Capital Management LLC raised its holdings in Stereotaxis by 56.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 221,475 shares of the company’s stock worth $509,000 after buying an additional 80,075 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in Stereotaxis by 47.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 17,801 shares of the company’s stock worth $41,000 after buying an additional 5,692 shares during the last quarter. 45.35% of the stock is currently owned by institutional investors.

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.