Cortina Asset Management buys $36.5 Million stake in NxStage Medical (NXTM)

NxStage Medical (NXTM) : Cortina Asset Management scooped up 85,164 additional shares in NxStage Medical during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 2,034,300 shares of NxStage Medical which is valued at $36.5 Million.NxStage Medical makes up approximately 1.68% of Cortina Asset Management’s portfolio.

Other Hedge Funds, Including , Denver Investment Advisors added NXTM to its portfolio by purchasing 10,190 company shares during the most recent quarter which is valued at $182,605. NxStage Medical makes up approx 0.01% of Denver Investment Advisors’s portfolio.Trexquant Investment Lp reduced its stake in NXTM by selling 32,200 shares or 55.81% in the most recent quarter. The Hedge Fund company now holds 25,500 shares of NXTM which is valued at $456,960. NxStage Medical makes up approx 0.05% of Trexquant Investment Lp’s portfolio.Essex Investment Management Co reduced its stake in NXTM by selling 1,279 shares or 2.41% in the most recent quarter. The Hedge Fund company now holds 51,858 shares of NXTM which is valued at $929,295. NxStage Medical makes up approx 0.16% of Essex Investment Management Co’s portfolio.Rhumbline Advisers reduced its stake in NXTM by selling 260 shares or 0.38% in the most recent quarter. The Hedge Fund company now holds 68,166 shares of NXTM which is valued at $1.1 Million.

NxStage Medical opened for trading at $17.77 and hit $18.25 on the upside on Friday, eventually ending the session at $18.01, with a gain of 1.98% or 0.35 points. The heightened volatility saw the trading volume jump to 2,70,887 shares. Company has a market cap of $1,159,610 M.

On the company’s financial health, NxStage Medical reported $-0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $-0.05. The company had revenue of $89.21 million for the quarter, compared to analysts expectations of $88.40 million. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Many Wall Street Analysts have commented on NxStage Medical. Shares were Resumed by Piper Jaffray on Mar 31, 2016 to “Overweight” and Lowered the Price Target to $ 18.50 from a previous price target of $23 .

NxStage Medical Inc. is a medical device company. The Company is engaged in the development manufacturing and marketing of products for the treatment of kidney failure fluid overload and related blood treatments and procedures. The Company’s products include the System One Streamline Blood Tubing Sets and AV Fistula and Apheresis Needles. Its primary product the System One is a small portable easy-to-use hemodialysis system. It is designed to deliver the therapeutic flexibility and clinical benefits associated with traditional dialysis machines in a smaller portable easy-to-use form that can be used by healthcare professionals and trained lay users alike in a variety of settings including patient homes as well as more traditional care settings such as hospitals and dialysis centers. The Company operates in three reportable business segments: System One In-Center and Services.

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