Trading Report: The Zacks Investment Research Downgrades Cardica Inc. (DXTR) to Sell

The Zacks Investment Research Downgrades Cardica Inc. (DXTR) to Sell

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. “

Shares of Cardica (NASDAQ:DXTR) opened at 1.91 on Tuesday. The company’s 50-day moving average price is $1.94 and its 200-day moving average price is $2.50. Cardica has a 52-week low of $1.10 and a 52-week high of $4.30. The stock’s market cap is $17.00 million.

Cardica (NASDAQ:DXTR) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.47) by $0.01. On average, equities research analysts forecast that Cardica will post ($1.53) earnings per share 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.

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