Oppenheimer Downgrades Stereotaxis To Perform

According to Oppenheimer, Stereotaxis STXS rating is downgraded to Perform. Oppenheimer said that it is lowering its rating on STXS to Perform from Outperform and removing its $5 price target. “We lower our '11E/'12E sales by $19M/$18M to 45.2/$62.0M, respectively. Visibility at this point is low. Cost cuts partially offset for '11E/'12E EPS of ($0.61)/($0.31).” Stereotaxis closed yesterday at $2.85.