Kovack Advisors Inc. Increases Holdings in Stereotaxis, Inc. (NYSEAMERICAN:STXS)

Kovack Advisors Inc. increased its stake in shares of Stereotaxis, Inc. (NYSEAMERICAN:STXS) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 224,400 shares of the company’s stock after buying an additional 32,493 shares during the quarter. Kovack Advisors Inc. owned about 0.28% of Stereotaxis worth $393,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STXS. Barclays PLC purchased a new stake in Stereotaxis in the third quarter valued at $35,000. Investors Research Corp purchased a new stake in Stereotaxis in the fourth quarter valued at $63,000. Independent Advisor Alliance raised its position in Stereotaxis by 11.0% in the third quarter. Independent Advisor Alliance now owns 101,305 shares of the company’s stock valued at $160,000 after purchasing an additional 10,000 shares during the period. Finally, Lagoda Investment Management L.P. raised its position in Stereotaxis by 5.7% in the third quarter. Lagoda Investment Management L.P. now owns 3,249,785 shares of the company’s stock valued at $5,135,000 after purchasing an additional 176,150 shares during the period. Hedge funds and other institutional investors own 45.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on STXS. Roth Mkm reissued a “buy” rating and set a $5.00 target price on shares of Stereotaxis in a research note on Tuesday, March 5th. Lake Street Capital boosted their target price on Stereotaxis from $3.00 to $4.00 and gave the company a “buy” rating in a report on Tuesday, March 5th.

Stereotaxis Stock Performance

STXS opened at $2.30 on Monday. The company has a market capitalization of $188.90 million, a P/E ratio of -8.21 and a beta of 1.34. Stereotaxis, Inc. has a 1-year low of $1.33 and a 1-year high of $3.29.

Stereotaxis (NYSEAMERICAN:STXS) last released its quarterly earnings results on Monday, March 4th. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). The business had revenue of $4.57 million for the quarter, compared to analysts’ expectations of $7.55 million. Stereotaxis had a negative return on equity of 103.37% and a negative net margin of 77.37%. As a group, equities research analysts forecast that Stereotaxis, Inc. will post -0.23 earnings per share for the current fiscal year.

About Stereotaxis

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.