Stereotaxis (NYSEAMERICAN:STXS) Shares Down 2.1% – Here’s Why

Shares of Stereotaxis Inc. (NYSEAMERICAN:STXS) traded down 2.1% during mid-day trading on Monday . The stock traded as low as $2.32 and last traded at $2.32. 249,962 shares traded hands during trading, a decline of 40% from the average session volume of 413,828 shares. The stock had previously closed at $2.37.

Wall Street Analyst Weigh In

STXS has been the topic of a number of research analyst reports. Roth Capital reiterated a “buy” rating and set a $4.00 target price on shares of Stereotaxis in a research report on Wednesday, November 12th. UBS Group set a $4.00 price target on Stereotaxis in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $4.00.

Stereotaxis Stock Performance

The company has a market capitalization of $216.50 million, a PE ratio of -8.29 and a beta of 1.47. The firm’s 50-day simple moving average is $2.68 and its 200 day simple moving average is $2.58.

Insider Activity

In other Stereotaxis news, Director Paul J. Isaac purchased 20,000 shares of Stereotaxis stock in a transaction on Friday, November 14th. The shares were bought at an average price of $2.24 per share, with a total value of $44,800.00. Following the completion of the acquisition, the director directly owned 2,786,557 shares of the company’s stock, valued at approximately $6,241,887.68. This trade represents a 0.72% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.77% of the stock is owned by company insiders.

Institutional Trading of Stereotaxis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Warberg Asset Management LLC raised its position in shares of Stereotaxis by 260.1% in the second quarter. Warberg Asset Management LLC now owns 1,201,500 shares of the company’s stock valued at $2,547,000 after buying an additional 867,878 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Stereotaxis during the third quarter worth $1,125,000. Prescott Group Capital Management L.L.C. boosted its stake in shares of Stereotaxis by 44.5% in the second quarter. Prescott Group Capital Management L.L.C. now owns 1,139,252 shares of the company’s stock valued at $2,415,000 after purchasing an additional 350,600 shares during the period. Vanguard Group Inc. grew its holdings in Stereotaxis by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,441,091 shares of the company’s stock valued at $10,702,000 after purchasing an additional 138,482 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Stereotaxis in the third quarter worth about $413,000. Hedge funds and other institutional investors own 45.35% of the company’s stock.

Stereotaxis Company Profile

Stereotaxis, Inc designs, manufactures, and markets robotic systems, instruments, and information systems for the interventional laboratory in the United States and internationally. Its robotic magnetic navigation (RMN) systems include the Genesis RMN and Niobe systems, which enable physicians to complete complex interventional procedures by providing image-guided delivery of catheters and guidewires through the blood vessels and chambers of the heart to treatment sites.