Dextera Surgical Inc (NASDAQ:DXTR)
Dextera Surgical Inc (NASDAQ:DXTR) stock was trading down 24%, at $0.16, in after-hours trading on heavy volume after the medical instruments company posted Q1 2018 earnings that missed expectations. Buyers began stepping in at those levels and DXTR stock is trading up at $0.21 at the time of this writing – 5:44 PM EST.
The total net loss attributable to common stockholders for the Q1 2018 was $3.6 million, or $0.09 per share. Wall St. analysts had forecast a per share loss of (-$0.07). The net loss for Q1 2018 before the deemed preferred stock dividend was approximately $3.5 million. Additionally, net loss applicable to common stockholders included a deemed (non-cash) preferred stock dividend of $0.1 million, representing the value of beneficial conversion rights embedded in the preferred shares issued in the company’s recently completed convertible preferred stock public offering.
Dextera Surgical Inc (NASDAQ:DXTR) designs and manufactures proprietary stapling devices for minimally invasive surgical procedures. In the U.S., surgical staplers are routinely used in more than one million minimally invasive laparoscopic, video-assisted, or robotic-assisted surgical procedures annually. Dextera Surgical also markets the only automated anastomosis devices for coronary artery bypass graft (CABG) surgery on the market today: The C-Port® Distal Anastomosis Systems and PAS-Port® Proximal Anastomosis System.
Despite the multi-year downtrend and the recent EPS losses, two analysts rate DXTR stock as a “Strong Buy” while one rates DXTR stock as a “Hold”. DXTR shareholders have had a rough 2017 so far. Year-to-date, DXTR shares are down over 80% and for the year shares are down over 88%.
EPS for DXTR stock has been negative since 2012 but improved each year until 2016, then a loss of (-$2.33) was posted for 2017. Sales have been rather consistent. In 2013 sales were posted at $3.5 million and that number did not substantially change over the next four years.
Interested investors should take note that the company has a listed book value per share that is negative (-0.47).
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.