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Tuesday, October 20, 2020

Dextera Surgical Inc (NASDAQ:DXTR) Rising on Strong Fundamentals

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Dextera Surgical Inc. (NASDAQ:DXTR) started off 2017 with a bang bursting out of the gate to $2.30 per share in the first 10 days of the year registering 9 million shares traded during this peak, which blew away all volume records in these shares.

Much of the rally was driven by news about the positive developments for the MicroCutter 5/80 which is a stapler surgeons use in minimally invasive urologic, thoracic, and pediatric surgical procedures.

Dextera Surgical Inc. (NASDAQ:DXTR) opened the year and talked about the corporate milestones for the remainder of fiscal 2017. The company projected sales growth (gave guidance) in the United States and Europe,  and expected to report product sales of $260,000 to $280,000 for the second quarter of fiscal 2017, ended December 31, 2016. This sent shares higher and a look at the chart below tells much of the story.

They also said they believed they were on track to achieve projected milestones for 2017, and began a controlled commercial launch of the MicroCutter 5/80 in November (2016). DXTR believes they have enough feedback from surgeons and insight into the market to provide initial guidance on MicroCutter sales for the remainder of fiscal 2017.

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“These indications account for more than 80,000 procedures in the U.S., where the small size and increased articulation of the MicroCutter 5/80 may contribute to less invasive approaches to treat these patients,” said Julian Nikolchev, president and CEO of Dextera Surgical Inc. “In Europe, where we have the CE Mark for these indications, surgeons are currently using the MicroCutter 5/80 successfully in these applications.”

Currently, the MicroCutter 5/80 Stapler and MicroCutter 30 Reloads are intended for transection and resection in multiple open or minimally-invasive urologic, thoracic, and pediatric surgical procedures, as well as application for transection, resection, and/or creation of anastomoses in the small and large intestine, and the transection of the appendix. Dextera Surgical is seeking to expand these indications for use to include use in the liver, pancreas, kidney and spleen surgical procedures.

As soon as the 9 million shares hit the market driving the shares to new highs, DXTR began a decline that has lasted the first half of the year.  They turned over the entire outstanding share count in a few trading sessions, so something was clearly wrong with this price action. The guidance got investors in, but they spent the rest of the year exiting the stock.

Last week, we had a turn in the stock, which had fallen from $2.30 to .17 cents losing 92% of its value after the early January high.  You can see in the chart above, and the decline, followed by the bounce shares had in June after bottoming at the .17 cent level, they rallied back to .32 cents, creating what looks like a bottom. The volume was a big indicator in our analysis.

Dextera Surgical Inc. (NASDAQ:DXTR) and its rally caught our eye with a sudden volume surge, but the bigger picture shows this is a very small retracement for Dextera. Currently, they are a small company at $2.73 million market cap with 8.93 million shares outstanding. But, based on the projections,  we think the fundamentals will draw value buyers at these levels under .50 cents, and DXTR may be a stock to watch in the second half of 2017. For continuing coverage on shares of $DXTR stock, as well as our other breakout picks, sign up for our free newsletter today and get our next hot stock pick!

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