Zacks Investment Research cut shares of Cardica Inc. (NASDAQ:DXTR) from a hold rating to a sell rating in a report released 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 1.97 on Tuesday. The company has a 50-day moving average price of $1.95 and a 200-day moving average price of $2.50. Cardica has a 12-month low of $1.10 and a 12-month high of $4.30. The firm’s market capitalization is $17.53 million.

Cardica (NASDAQ:DXTR) last issued its earnings results on Tuesday, August 9th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by $0.01. Equities analysts predict that Cardica will post ($1.53) EPS for the current year.

Cardica Company Profile

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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