Stereotaxis (NYSEAMERICAN:STXS) Trading Down 2.3% – Should You Sell?

Stereotaxis Inc. (NYSEAMERICAN:STXS) was down 2.3% during trading on Thursday . The company traded as low as $1.29 and last traded at $1.29. 598,312 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 481,507 shares. The stock had previously closed at $1.32.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on STXS shares. TD Cowen cut their price target on Stereotaxis from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Citigroup reissued an “outperform” rating on shares of Stereotaxis in a research note on Thursday, August 27th. Finally, Citizens Jmp dropped their price objective on Stereotaxis from $4.00 to $3.00 and set a “market outperform” rating on the stock in a report on Thursday, August 27th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $3.50.

Stereotaxis Stock Down 2.3%

The stock has a market capitalization of $129.26 million, a price-to-earnings ratio of -5.37 and a beta of 1.43. The company’s 50-day simple moving average is $1.41 and its 200 day simple moving average is $1.72.

Stereotaxis (NYSEAMERICAN:STXS) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $7.67 million during the quarter, compared to the consensus estimate of $8.35 million. Stereotaxis had a negative return on equity of 130.84% and a negative net margin of 74.24%. On average, equities analysts expect that Stereotaxis Inc. will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stereotaxis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STXS. Legato Capital Management LLC raised its position in shares of Stereotaxis by 9.6% in the fourth quarter. Legato Capital Management LLC now owns 504,506 shares of the company’s stock valued at $1,160,000 after purchasing an additional 44,207 shares during the period. Leonteq Securities AG bought a new stake in shares of Stereotaxis during the 4th quarter worth $172,000. Bank of New York Mellon Corp acquired a new position in Stereotaxis in the 2nd quarter valued at $364,000. Sei Investments Co. grew its stake in Stereotaxis by 108.9% in the 1st quarter. Sei Investments Co. now owns 518,884 shares of the company’s stock valued at $955,000 after buying an additional 270,443 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Stereotaxis in the 1st quarter worth $700,000. Institutional investors and hedge funds own 45.35% of the company’s stock.

Stereotaxis Company Profile

Stereotaxis, Inc develops robotic technologies for the treatment of cardiac arrhythmias and other conditions addressed through minimally invasive endovascular procedures. Its systems are designed to help physicians navigate specialized catheters through the cardiovascular system with computerized control and magnetic guidance, supporting procedures such as electrophysiology studies and catheter ablation.

The company’s portfolio includes the Genesis Robotic Magnetic Navigation system, which uses externally controlled magnetic fields to guide compatible catheters, as well as related workflow, visualization and information-management technologies.