Stereotaxis (NYSEAMERICAN:STXS) Stock Price Up 3.7% – Time to Buy?

Stereotaxis Inc. (NYSEAMERICAN:STXS)’s stock price traded up 3.7% during trading on Friday . The company traded as high as $1.69 and last traded at $1.68. Approximately 2,360,269 shares changed hands during trading, an increase of 522% from the average daily volume of 379,306 shares. The stock had previously closed at $1.62.

Analysts Set New Price Targets

STXS has been the topic of a number of recent research reports. Citigroup restated a “market outperform” rating on shares of Stereotaxis in a report on Wednesday, June 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $3.50 target price (down from $4.00) on shares of Stereotaxis in a report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Stereotaxis has an average rating of “Buy” and a consensus price target of $3.88.

Stereotaxis Stock Performance

The stock has a market cap of $164.20 million, a price-to-earnings ratio of -7.00 and a beta of 1.35. The business’s 50 day moving average is $1.87 and its 200 day moving average is $2.08.

Institutional Investors Weigh In On Stereotaxis

A number of institutional investors have recently bought and sold shares of STXS. BNP Paribas Financial Markets grew its stake in Stereotaxis by 106.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,461 shares of the company’s stock valued at $36,000 after acquiring an additional 5,910 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Stereotaxis in the third quarter worth approximately $38,000. WealthPLAN Partners LLC purchased a new position in Stereotaxis during the fourth quarter valued at approximately $29,000. Moneta Group Investment Advisors LLC acquired a new position in Stereotaxis in the 3rd quarter valued at approximately $43,000. Finally, SG Americas Securities LLC acquired a new position in Stereotaxis in the 4th quarter valued at approximately $33,000. 45.35% of the stock is currently owned by institutional investors and hedge funds.

Stereotaxis Company Profile

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.