Dextera Surgical Inc. (DXTR) Upgraded by Zacks Investment Research to Hold

Dextera Surgical Inc. (NASDAQ:DXTR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a 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. “

Several other analysts have also recently weighed in on DXTR. Ladenburg Thalmann Financial Services assumed coverage on shares of Dextera Surgical in a research note on Wednesday, August 16th. They set a “buy” rating and a $0.80 price objective on the stock. Wedbush decreased their price objective on shares of Dextera Surgical from $3.50 to $0.70 and set an “outperform” rating on the stock in a research note on Wednesday, July 12th.

Shares of Dextera Surgical (NASDAQ DXTR) traded down 4.146% during trading on Tuesday, reaching $0.215. 2,939,915 shares of the company’s stock were exchanged. The company’s market capitalization is $3.83 million. The company has a 50 day moving average price of $0.30 and a 200-day moving average price of $0.41. Dextera Surgical has a 52-week low of $0.17 and a 52-week high of $2.33.

Dextera Surgical (NASDAQ:DXTR) last issued its quarterly earnings data on Tuesday, August 8th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.29). The business had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $1.03 million. On average, equities analysts forecast that Dextera Surgical will post ($0.25) earnings per share for the current year.

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A number of institutional investors have recently modified their holdings of the business. Perkins Capital Management Inc. bought a new stake in Dextera Surgical during the second quarter worth about $100,000. Virtu KCG Holdings LLC grew its stake in Dextera Surgical by 1,380.6% during the second quarter. Virtu KCG Holdings LLC now owns 369,918 shares of the medical instruments supplier’s stock worth $111,000 after buying an additional 344,933 shares during the last quarter. Finally, Broadfin Capital LLC grew its stake in Dextera Surgical by 64.7% during the second quarter. Broadfin Capital LLC now owns 987,520 shares of the medical instruments supplier’s stock worth $296,000 after buying an additional 388,080 shares during the last quarter. 6.58% of the stock is currently owned by hedge funds and other institutional investors.

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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