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Paul J. Isaac, a director at Stereotaxis , Inc. (AMEX:NYSE:STXS), has recently increased his stake in the company through two separate purchases of common stock. The insider buying comes as the stock trades near its 52-week low, having declined nearly 30% over the past year. According to a recent SEC filing, Isaac acquired a total of 24,788 shares over two days. InvestingPro analysis suggests the stock is currently undervalued, with analyst price targets ranging from $4 to $5.
On March 6, Isaac bought 23,299 shares at a price of $1.81 per share. The following day, he purchased an additional 1,489 shares at $1.79 each. These transactions collectively amounted to an investment of $44,836.
The filing also notes that some of these shares are beneficially owned by Arbiter Partners Capital Management LLC, where Isaac plays a controlling role. This acquisition raises his total direct and indirect ownership to 2,766,557 shares in Stereotaxis.
In other recent news, Stereotaxis Inc. reported its fourth-quarter 2024 financial results, which fell short of market expectations. The company announced a revenue of $6.3 million, missing the forecast of $8.08 million, and an earnings per share (EPS) of -$0.09, below the expected -$0.06. Despite these misses, the company noted a 39% year-over-year increase in revenue for the quarter. Stereotaxis also highlighted its strategic focus on expanding its catheter portfolio and launching new products, with expectations of double-digit growth in 2025. The company has submitted regulatory filings for key catheter innovations, including the Magic Ablation Catheter in the U.S., which is anticipated to receive approval in the second half of the year. Additionally, Stereotaxis is preparing for the commercial launch of its Genesis X robot in Europe and the U.S. later in 2025. Analyst firms like Lake Street Capital Markets and Piper Sandler have been actively engaging with the company, seeking clarity on product timelines and revenue expectations. As Stereotaxis navigates these developments, the company maintains its focus on achieving significant milestones in its strategic transformation.
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