Cherry Creek Investment Advisors Inc. Purchases New Position in Stereotaxis, Inc. (NYSEAMERICAN:STXS)

Cherry Creek Investment Advisors Inc. purchased a new stake in shares of Stereotaxis, Inc. (NYSEAMERICAN:STXS) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 25,578 shares of the company’s stock, valued at approximately $247,000.

Other institutional investors also recently made changes to their positions in the company. Everett Harris & Co. CA grew its holdings in Stereotaxis by 26.1% during the 1st quarter. Everett Harris & Co. CA now owns 15,000 shares of the company’s stock worth $101,000 after acquiring an additional 3,100 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Stereotaxis by 11.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,462 shares of the company’s stock valued at $294,000 after acquiring an additional 3,251 shares during the period. Rhumbline Advisers lifted its position in shares of Stereotaxis by 10.3% during the 2nd quarter. Rhumbline Advisers now owns 38,110 shares of the company’s stock valued at $367,000 after acquiring an additional 3,551 shares during the period. Advisor Group Holdings Inc. lifted its position in shares of Stereotaxis by 57.8% during the 2nd quarter. Advisor Group Holdings Inc. now owns 18,710 shares of the company’s stock valued at $181,000 after acquiring an additional 6,850 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in Stereotaxis by 28.5% during the first quarter. New York State Common Retirement Fund now owns 32,500 shares of the company’s stock worth $218,000 after buying an additional 7,200 shares during the last quarter. 58.38% of the stock is currently owned by institutional investors.

Several research analysts have weighed in on STXS shares. Lake Street Capital upped their price objective on shares of Stereotaxis from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, June 25th. Piper Sandler reiterated an “overweight” rating and issued a $11.00 target price (up previously from $9.00) on shares of Stereotaxis in a research note on Thursday, July 1st. Finally, Zacks Investment Research upgraded shares of Stereotaxis from a “sell” rating to a “hold” rating in a research note on Wednesday, September 1st.

NYSEAMERICAN:STXS traded up $0.05 on Thursday, reaching $5.75. 1,112 shares of the company’s stock were exchanged, compared to its average volume of 395,551. The firm has a market capitalization of $428.42 million, a PE ratio of -63.33 and a beta of 1.41. Stereotaxis, Inc. has a 52 week low of $3.03 and a 52 week high of $10.30.

Stereotaxis (NYSEAMERICAN:STXS) last issued its earnings results on Tuesday, August 10th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $9.05 million during the quarter, compared to analyst estimates of $8.20 million. Stereotaxis had a negative net margin of 16.55% and a negative return on equity of 15.61%. Sell-side analysts expect that Stereotaxis, Inc. will post -0.12 EPS for the current year.

Stereotaxis Profile

Stereotaxis, Inc designs, manufactures and markets robotic magnetic navigation systems for use in a hospital’s interventional surgical suite to enhance the treatment of arrhythmias and coronary artery disease. Its products include the Genesis RMN System, the Odyssey Solution, and related devices. The firm also offers the Stereotaxis Imaging Model S x-ray System.

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Institutional Ownership by Quarter for Stereotaxis (NYSEAMERICAN:STXS)

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