TD Cowen Cuts Stereotaxis (NYSEAMERICAN:STXS) Price Target to $3.00

Stereotaxis (NYSEAMERICAN:STXS) had its price target decreased by TD Cowen from $5.00 to $3.00 in a report released on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Citigroup reissued a “market outperform” rating on shares of Stereotaxis in a research report on Wednesday, June 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $3.50 price target (down from $4.00) on shares of Stereotaxis in a report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $3.70.

Stereotaxis Stock Performance

Shares of Stereotaxis stock opened at $1.38 on Wednesday. The company has a market capitalization of $135.14 million, a PE ratio of -5.75 and a beta of 1.37. The company has a 50-day simple moving average of $1.61 and a two-hundred day simple moving average of $1.85. Stereotaxis has a one year low of $1.24 and a one year high of $3.59.

Stereotaxis (NYSEAMERICAN:STXS) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Stereotaxis had a negative net margin of 74.24% and a negative return on equity of 130.84%. The business had revenue of $7.67 million during the quarter, compared to analyst estimates of $8.35 million. On average, equities analysts predict that Stereotaxis will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stereotaxis

Several institutional investors have recently added to or reduced their stakes in STXS. Sequoia Financial Advisors LLC acquired a new position in shares of Stereotaxis during the first quarter valued at about $700,000. Leonteq Securities AG purchased a new position in shares of Stereotaxis in the 4th quarter valued at approximately $172,000. Occudo Quantitative Strategies LP acquired a new stake in Stereotaxis in the 3rd quarter worth approximately $127,000. Deutsche Bank AG boosted its stake in Stereotaxis by 10.6% in the 4th quarter. Deutsche Bank AG now owns 51,584 shares of the company’s stock worth $119,000 after purchasing an additional 4,948 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Stereotaxis during the 3rd quarter worth approximately $70,000. Institutional investors and hedge funds own 45.35% of the company’s stock.

About Stereotaxis

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.