Dextera Surgical Inc. (NASDAQ:DXTR) shares dropped 12.7% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $0.27 and last traded at $0.25, with a volume of 3,800,371 shares changing hands. The stock had previously closed at $0.29.

The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.11) by $0.29. The company had revenue of $1.05 million for the quarter, compared to analyst estimates of $1.03 million.

DXTR has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Dextera Surgical from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Wedbush cut their price target on shares of Dextera Surgical from $3.50 to $0.70 and set an “outperform” rating on the stock in a report on Wednesday, July 12th.

A hedge fund recently bought a new stake in Dextera Surgical stock. Perkins Capital Management Inc. purchased a new stake in Dextera Surgical Inc. (NASDAQ:DXTR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 333,983 shares of the medical instruments supplier’s stock, valued at approximately $100,000. Perkins Capital Management Inc. owned about 3.74% of Dextera Surgical as of its most recent filing with the SEC. 7.19% of the stock is owned by hedge funds and other institutional investors.

The firm has a 50-day moving average of $0.28 and a 200-day moving average of $0.72. The stock’s market cap is $2.23 million.

TRADEMARK VIOLATION WARNING: This story was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another site, it was illegally copied and reposted in violation of international copyright laws. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/08/10/dextera-surgical-inc-dxtr-shares-down-12-7-following-weak-earnings.html.

Dextera Surgical Company Profile

Dextera Surgical Inc, formerly Cardica, Inc, designs and manufactures stapling devices that enable the advancement of minimally invasive surgical procedures. The Company is engaged in commercializing and developing its MicroCutter 5/80 stapler based on its staple-on-a-strip technology for use by thoracic, pediatric, bariatric, colorectal and general surgeons.

Receive News & Stock Ratings for Dextera Surgical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dextera Surgical Inc. and related stocks with our FREE daily email newsletter.