Market Overview

UPDATE: Loewen, Ondaatje, McCutcheon Initiates Cardica at Buy on Competitive Positioning

Related CRDC
Medtronic's Cardiac Monitor Boosts AF Detection in Stroke Patients - Analyst Blog
Allscripts Healthcare's Sunrise EHR Platform Expansion on Track - Analyst Blog

Loewen, Ondaatje, McCutcheon initiated coverage on Cardica (NASDAQ: CRDC) with a Buy rating and a $2.50 price target.

Loewen, Ondaatje, McCutcheon commented, "Cardica is an exciting turnaround story that will be driven by its recent commercial entry into the $1.6 billion global endoscopic stapler market. The Company's MicroCutter XCHANGE 30 is a unique and highly differentiated surgical instrument that, among several advantages, is substantially smaller than competing products. Based on our clinician and industry due diligence, we believe Cardica is well‐positioned to capture a significant share of the 4 million minimally invasive surgeries performed annually worldwide that utilize an endoscopic stapler."

Cardica closed at $1.10 on Monday.

Latest Ratings for CRDC

DateFirmActionFromTo
Nov 2014Craig-HallumDowngradesBuyHold
May 2013WedbushInitiates Coverage onOutperform
Jan 2013Loewen, Ondaatje, McCutcheon USA LimitedInitiates Coverage onBuy

View More Analyst Ratings for CRDC
View the Latest Analyst Ratings

Posted-In: Loewen McCutcheon OndaatjeAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (CRDC)

Around the Web, We're Loving...

Get Benzinga's Newsletters