Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Camber Capital Management Reveals New Position in Cardica, Inc. (CRDC)

Stephen Dubois‘ Camber Capital Management revealed a new stake in Cardica, Inc. (NASDAQ:CRDC). According to a recent 13G filing, the fund now owns 8.37 million shares, almost 10.00% of the company’s common stock total.


Based in Redwood City, CA, Cardica, Inc. (NASDAQ:CRDC) is a designer and manufacturer of an endoscopic microcutter product line for cardiac and laparoscopic surgical procedures. The company’s technology enables minimally-invasive and robot-assisted surgeries and minimizes operating time. One of its main products, MicroCutter XCHANGE 30 is a cartridge-based surgical stapling device with a five millimeter shaft diameter designed for use in gastrointestinal procedures and appendectomies. A month ago, Cardica Cardica announced the completion of the first US procedure using its MicroCutter XCHANGE 30 stapling device. The company believes that its MicroCutter products may revolutionize the stapler market, being significantly smaller than the standard 12 millimeter staplers currently on the market. The microcutter manufacturer generated losses of more than $16.00 million or $ 0.42 per share in 2013, while this year it is expected to produce losses of $0.31 per share. On average, analysts suggest that investors buy the company’s stock, which currently trades at a price of slightly above $1.00 per share.

Kevin Kotler‘s Broadfin Capital owned 4.77 million shares of Cardica, Inc. (NASDAQ:CRDC), valued at $4.65 million, at the end of 2013. Prescott Group Capital Management, led by Phil Frohlich, is another large shareholder at Cardica, with 2.00 million shares worth almost $2.00 million.

Camber Capital Management’s $1.13 billion equity portfolio is almost entirely (95%) invested in the healthcare sector. With a position of 2.00 million shares worth $80.00 million, Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) represents the largest investment in the fund’s portfolio. A few months ago Camber Capital raised its holding in CONMED Corporation (NASDAQ:CNMD) by around 40% to 1.40 million shares.

Disclosure: none

Recommended Reading:

Billionaire Leon Cooperman Purchases More Shares of Resource Partners, L.P. (ARP)

MHR Fund’s Mark Rachesky Agrees To Serve On Titan International Inc (TWI)’s Board

Two Banking Stocks That Insiders Are Buying

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!