Stereotaxis (NYSEAMERICAN:STXS) Trading Down 2.3% – Time to Sell?

Stereotaxis Inc. (NYSEAMERICAN:STXS) traded down 2.3% during mid-day trading on Thursday . The stock traded as low as $1.29 and last traded at $1.29. Approximately 598,312 shares changed hands during 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 recently weighed in on STXS shares. Citigroup restated an “outperform” rating on shares of Stereotaxis in a research note on Thursday, August 27th. Citizens Jmp reduced their target price on shares of Stereotaxis from $4.00 to $3.00 and set a “market outperform” rating for the company in a report on Thursday, August 27th. Finally, TD Cowen reduced their target price on shares of Stereotaxis from $5.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Stereotaxis currently has a consensus rating of “Buy” and a consensus target price of $3.50.

Stereotaxis Stock Performance

The company has a market capitalization of $133.27 million, a price-to-earnings ratio of -5.54 and a beta of 1.43. The business’s 50 day moving average is $1.40 and its 200 day moving average is $1.71.

Stereotaxis (NYSEAMERICAN:STXS) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Stereotaxis had a negative return on equity of 130.84% and a negative net margin of 74.24%.The business had revenue of $7.67 million for the quarter, compared to analyst estimates of $8.35 million. Sell-side analysts predict that Stereotaxis Inc. will post -0.22 EPS for the current year.

Institutional Trading of Stereotaxis

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. increased its stake in Stereotaxis by 108.9% during the first quarter. Sei Investments Co. now owns 518,884 shares of the company’s stock worth $955,000 after acquiring an additional 270,443 shares during the last quarter. Legato Capital Management LLC lifted its stake in shares of Stereotaxis by 9.6% in the 4th 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 last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Stereotaxis in the 1st quarter valued at $700,000. Bank of New York Mellon Corp purchased a new position in shares of Stereotaxis during the 2nd quarter worth $364,000. Finally, Leonteq Securities AG purchased a new position in shares of Stereotaxis during the 4th quarter worth $172,000. Institutional investors and hedge funds own 45.35% of the company’s stock.

About Stereotaxis

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.