Stereotaxis Inc. (NYSEAMERICAN:STXS – Get Free Report) shot up 3.7% on Friday . The company traded as high as $1.69 and last traded at $1.68. 2,360,269 shares changed hands during mid-day trading, an increase of 522% from the average daily volume of 379,306 shares. The stock had previously closed at $1.62.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $3.50 price objective (down from $4.00) on shares of Stereotaxis in a research report on Wednesday, May 13th. Citigroup reaffirmed a “market outperform” rating on shares of Stereotaxis in a research report on Wednesday, June 3rd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $3.88.
Read Our Latest Stock Report on Stereotaxis
Stereotaxis Price Performance
Institutional Investors Weigh In On Stereotaxis
A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in Stereotaxis by 0.9% during the second quarter. Geode Capital Management LLC now owns 1,478,201 shares of the company’s stock worth $3,135,000 after buying an additional 13,891 shares during the last quarter. Rhumbline Advisers raised its holdings in Stereotaxis by 223.7% during the second quarter. Rhumbline Advisers now owns 148,913 shares of the company’s stock valued at $316,000 after buying an additional 102,916 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Stereotaxis in the second quarter worth about $78,000. Envestnet Asset Management Inc. acquired a new stake in shares of Stereotaxis in the third quarter worth about $413,000. Finally, Vanguard Group Inc. boosted its stake in shares of Stereotaxis by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,441,091 shares of the company’s stock worth $10,702,000 after acquiring an additional 138,482 shares in the last quarter. 45.35% of the stock is currently owned by institutional investors.
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.
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