Stereotaxis (NYSEAMERICAN:STXS) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Stereotaxis (NYSEAMERICAN:STXS) issued its quarterly earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02), FiscalAI reports. The firm had revenue of $6.29 million during the quarter, compared to analysts’ expectations of $8.50 million. Stereotaxis had a negative return on equity of 291.99% and a negative net margin of 66.85%.

Here are the key takeaways from Stereotaxis’ conference call:

• Stereotaxis said its new product cycle is gaining traction after multiple regulatory wins, including FDA approval for the MAGiC therapeutic catheter and clearance for the Synchrony digital surgery cockpit, alongside progress in Europe and China.
• The company highlighted early commercial adoption of MAGiC, with initial U.S. procedures proceeding well and management saying disposable revenue is already often above $5,000 per procedure and sometimes above $8,000.
• Management said MAGiC demand currently exceeds supply, but manufacturing is ramping and the contract manufacturer still expects output to exceed 500 catheters per month by year-end.
• The company reiterated its full-year outlook for double-digit revenue growth and revenue above $40 million, with management expecting quarterly revenue to ramp sequentially and Q3 and Q4 to exceed $10 million each.
• Financial results were still pressured by the transition away from Johnson & Johnson and ramp-up friction, with first-quarter revenue of $6.3 million, a $6.0 million operating loss, and cash of $14.6 million at quarter-end.

Stereotaxis Stock Performance

Shares of Stereotaxis stock traded down $0.06 during midday trading on Wednesday, hitting $1.87. The company had a trading volume of 156,087 shares, compared to its average volume of 470,701. The stock has a market capitalization of $181.80 million, a P/E ratio of -7.44 and a beta of 1.34. The company has a 50 day moving average of $1.93 and a 200 day moving average of $2.25. Stereotaxis has a 52-week low of $1.74 and a 52-week high of $3.59.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler restated an “overweight” rating and set a $3.50 target price (down from $4.00) on shares of Stereotaxis in a report on Wednesday. Four 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 $3.88.

Institutional Investors Weigh In On Stereotaxis

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Stereotaxis by 4.2% in the third quarter. Vanguard Group Inc. now owns 3,441,091 shares of the company’s stock worth $10,702,000 after acquiring an additional 138,482 shares during the last quarter. Arbiter Partners Capital Management LLC boosted its stake in Stereotaxis by 1.1% in the 4th quarter. Arbiter Partners Capital Management LLC now owns 2,883,856 shares of the company’s stock worth $6,633,000 after purchasing an additional 30,000 shares in the last quarter. Geode Capital Management LLC grew its position in Stereotaxis by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 1,565,182 shares of the company’s stock valued at $3,601,000 after purchasing an additional 55,491 shares during the last quarter. State Street Corp increased its stake in Stereotaxis by 11.4% during the 4th quarter. State Street Corp now owns 891,886 shares of the company’s stock valued at $2,051,000 after purchasing an additional 91,453 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new position in Stereotaxis in the fourth quarter worth about $1,380,000. 45.35% of the stock is 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.