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Sunday, January 16, 2022

This is Why Stereotaxis Inc (OTCMKTS:STXS) Just Broke Out

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An interesting addition to the recent breakout list to kick off the new month is Stereotaxis Inc (OTCMKTS:STXS). Shares of the stock launched higher on Wednesday, ripping nearly 25% to the upside during the trading session in a move that appears to be largely driven by news that its common stock has been approved for listing on the NYSE American.

According to the release, “the company’s common stock will begin trading on the NYSE American exchange under its current symbol, “STXS,” at the open of trading on Sept. 6, 2019. The company’s common stock will continue to trade on the OTCQX until the close of the market on Sept. 5, 2019.”

Stereotaxis Inc (OTCMKTS:STXS) promulgates itself as company that designs, manufactures, and markets robotic systems and instruments for the treatment of abnormal heart rhythms in the United States and internationally.

Its products include Niobe ES robotic magnetic navigation system that enables physicians to complete interventional procedures by providing image-guided delivery of catheters through the blood vessels and chambers of the heart to treatment sites; and Vdrive system, which offers navigation and stability for the diagnostic and therapeutic devices designed to enhance interventional procedures.

The company also offers Odyssey solution, a real-time information solution to manage, control, record, and share procedures across networks. In addition, it provides disposables and other accessories, such as QuikCAS automated catheter advancement disposables for the remote advancement of electrophysiology catheters; and CARTO RMT navigation and ablation system, CELSIUS RMT, NAVISTAR RMT, NAVISTAR RMT DS, NAVISTAR RMT THERMOCOOL, and CELSIUS RMT THERMOCOOL irrigated tip diagnostic/ablation steerable tip catheters.

Further, the company’s disposables and other accessories include V-CAS and V-CAS Deflect catheter advancement systems; and V-loop circular and V-Sono ICE catheter manipulators. The company markets its products through direct sales force, distributors, and sales agents. Stereotaxis, Inc. was founded in 1990 and is headquartered in St. Louis, Missouri.

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As noted above, STXS just announced that its common stock has been approved for listing on the NYSE American.

The chart shows 66% tacked on to share pricing for the company in the past month. Moreover, the name has registered increased average transaction volume recently, with the past month seeing a bit over 170% beyond what we have been seeing over the larger time frame. This is particularly important with the stock trading on a float that is tight at just 25.6M shares.

David Fischel, Chairman and CEO of Stereotaxis, commented, “We are excited to list on the NYSE American. This is another milestone in our effort to improve awareness of our differentiated technology, clinical value, and growth opportunity. Listing on the NYSE American should support a more robust capital market for existing and new shareholders.”

Earning a current market cap value of $178M, STXS has a significant war chest ($8.5M) of cash on the books, which must be weighed relative to about $12.8M in total current liabilities. One should also note that debt has been growing over recent quarters. STXS is pulling in trailing 12-month revenues of $28.6M. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -10%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $STXS stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $STXS, either long or short, and we have not been compensated for this article.

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