Stereotaxis (NYSEAMERICAN:STXS) Rating Lowered to Sell at Zacks Investment Research

Stereotaxis (NYSEAMERICAN:STXSGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday, Zacks.com reports.

According to Zacks, “Stereotaxis designs, manufactures and markets an advanced cardiology instrument control system for use in a hospital’s interventional surgical suite to enhance the treatment of coronary artery disease and arrhythmias. The Stereotaxis System is designed to allow physicians to navigate catheters, guidewires and stent delivery devices through the blood vessels and chambers of the heart to treatment sites. “

Stereotaxis stock opened at $1.87 on Friday. The company has a market cap of $139.58 million, a P/E ratio of -9.35 and a beta of 1.74. Stereotaxis has a one year low of $1.72 and a one year high of $10.30.

Stereotaxis (NYSEAMERICAN:STXSGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). Stereotaxis had a negative return on equity of 37.96% and a negative net margin of 39.69%. On average, analysts forecast that Stereotaxis will post -0.18 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of STXS. Advisor Group Holdings Inc. increased its stake in shares of Stereotaxis by 20.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 22,460 shares of the company’s stock valued at $120,000 after buying an additional 3,750 shares during the period. Sturgeon Ventures LLP grew its stake in shares of Stereotaxis by 2.8% during the fourth quarter. Sturgeon Ventures LLP now owns 299,313 shares of the company’s stock worth $1,856,000 after purchasing an additional 8,015 shares during the period. Royal Bank of Canada grew its stake in shares of Stereotaxis by 5.0% during the third quarter. Royal Bank of Canada now owns 167,949 shares of the company’s stock worth $903,000 after purchasing an additional 8,062 shares during the period. Jane Street Group LLC acquired a new stake in shares of Stereotaxis during the third quarter worth $56,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Stereotaxis during the third quarter worth $57,000. Hedge funds and other institutional investors own 56.84% of the company’s stock.

About Stereotaxis (Get Rating)

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.

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