Stereotaxis (NYSEAMERICAN:STXS) Shares Down 6.1% – Here’s What Happened

Shares of Stereotaxis Inc. (NYSEAMERICAN:STXS) fell 6.1% during trading on Friday . The stock traded as low as $1.48 and last traded at $1.55. 5,670,280 shares were traded during mid-day trading, an increase of 570% from the average daily volume of 846,499 shares. The stock had previously closed at $1.65.

Analysts Set New Price Targets

A number of brokerages have weighed in on STXS. Piper Sandler reiterated an “overweight” rating and issued a $3.50 price target (down from $4.00) on shares of Stereotaxis in a research report on Wednesday, May 13th. Citigroup restated a “market outperform” rating on shares of Stereotaxis in a research note on Wednesday, June 3rd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $3.88.

Stereotaxis Stock Performance

The stock has a market cap of $151.79 million, a price-to-earnings ratio of -6.46 and a beta of 1.34. The firm’s 50-day simple moving average is $1.81 and its two-hundred day simple moving average is $2.01.

Hedge Funds Weigh In On Stereotaxis

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Stereotaxis by 4.2% in the third quarter. Vanguard Group Inc. now owns 3,441,091 shares of the company’s stock valued at $10,702,000 after acquiring an additional 138,482 shares during the last quarter. Arbiter Partners Capital Management LLC raised its holdings in Stereotaxis by 1.1% during 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 during the last quarter. Geode Capital Management LLC raised its holdings in Stereotaxis by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 1,565,182 shares of the company’s stock worth $3,601,000 after purchasing an additional 55,491 shares during the last quarter. State Street Corp lifted its position 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 during the period. Finally, AlphaCentric Advisors LLC acquired a new position in Stereotaxis during the 4th quarter valued at about $1,380,000. Institutional investors and hedge funds 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.