Stereotaxis initiated with a Buy at Roth MKM

Roth MKM initiated coverage of Stereotaxis with a Buy rating and $5 price target. The company has developed a unique robotics platform for endovascular surgery that uses magnets to safely navigate catheters through tortuous vessels, the analyst tells investors in a research note. The firm says a strong pipeline headlined by a new catheter and mobile system with approvals expected later this year will transform the business from a capital equipment dependent model to a razor/razor blade model with a much greater recurring revenue stream and significantly higher revenue base.