Cardica Inc. (DXTR) Cut to Sell at Zacks Investment Research

Cardica Inc. (NASDAQ:DXTR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Dextera Surgical Inc. designs and manufactures proprietary stapling devices for surgical procedures. The company’s product consists of MicroCutter 5/80 use for transection and resection in urologic, thoracic and pediatric surgical procedures, as well as application for transection, resection and/or creation of anastomoses in the intestine and the transection of the appendix. Dextera Surgical Inc., formerly known as Cardica Inc., is headquartered in Redwood City, California. “

Cardica (NASDAQ:DXTR) traded up 4.23% during midday trading on Tuesday, reaching $1.97. 3,068 shares of the company traded hands. The stock’s market capitalization is $17.53 million. Cardica has a one year low of $1.10 and a one year high of $4.30. The company has a 50 day moving average price of $1.95 and a 200-day moving average price of $2.50.

Cardica (NASDAQ:DXTR) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.48) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by $0.01. Analysts forecast that Cardica will post ($1.53) EPS for the current fiscal year.

About Cardica

Dextera Surgical Inc, formerly Cardica, Inc, is focused on the commercialization and development of microcutter product line intended for use by surgeons. The Company is engaged in commercializing and developing MicroCutter XCHANGE 30 based on its staple-on-a-strip technology for use by thoracic, pediatric, bariatric, colorectal and general surgeons.

5 Day Chart for NASDAQ:DXTR

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