Stereotaxis Inc. (STXS Quick QuoteSTXS - Free Report) shares soared 10% in the last trading session to close at $8.84. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.6% gain over the past four weeks.

The stock scored a strong price increase on optimism surrounding the report published by “The Manomet Current” on scope and growth of surgical robots market on Jun 8. Per a report, the global surgical robots market is projected to reach $14.4 billion by 2026 from $6.4 billion in 2021, at a CAGR of 17.6%. Further, Stereotaxis’ May’s projection of robust double-digit revenue growth in 2021, with expected robotic system revenues in the band of $10-$20 million, contributed to the rally.

This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $8.2 million, up 53.3% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Stereotaxis Inc., the consensus EPS estimate for the quarter has been revised 11.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on STXS going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>