Zacks Investment Research cut shares of Dextera Surgical Inc. (NASDAQ:DXTR) from a hold rating to a strong sell rating in a report issued on Tuesday morning.

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. “

A number of other research firms have also commented on DXTR. Wedbush lowered their price target on Dextera Surgical from $3.50 to $0.70 and set an outperform rating for the company in a research report on Wednesday, July 12th. Ladenburg Thalmann Financial Services began coverage on Dextera Surgical in a research report on Wednesday, August 16th. They set a buy rating and a $0.80 price target for the company.

Dextera Surgical (NASDAQ:DXTR) traded up 1.5188% during midday trading on Tuesday, reaching $0.2941. The company had a trading volume of 2,742,539 shares. The stock’s market capitalization is $5.23 million. The company has a 50-day moving average price of $0.29 and a 200-day moving average price of $0.53. Dextera Surgical has a one year low of $0.17 and a one year high of $2.33.

Dextera Surgical (NASDAQ:DXTR) last released its quarterly earnings results on Tuesday, August 8th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.29). The business had revenue of $1.05 million during the quarter, compared to analyst estimates of $1.03 million. On average, equities analysts expect that Dextera Surgical will post ($0.24) earnings per share for the current year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Perkins Capital Management Inc. bought a new position in Dextera Surgical during the 2nd quarter valued at approximately $100,000. Virtu KCG Holdings LLC raised its position in Dextera Surgical by 1,380.6% during the 2nd quarter. Virtu KCG Holdings LLC now owns 369,918 shares of the medical instruments supplier’s stock valued at $111,000 after purchasing an additional 344,933 shares during the last quarter. Finally, Broadfin Capital LLC raised its position in Dextera Surgical by 64.7% during the 2nd quarter. Broadfin Capital LLC now owns 987,520 shares of the medical instruments supplier’s stock valued at $296,000 after purchasing an additional 388,080 shares during the last quarter. 7.78% of the stock is owned by institutional investors and hedge funds.

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.

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