Cortina Asset Management Lowers stake in NxStage Medical (NXTM)

NxStage Medical (NXTM) : Cortina Asset Management reduced its stake in NxStage Medical by 15.59% during the most recent quarter end. The investment management company now holds a total of 1,717,194 shares of NxStage Medical which is valued at $43,719,759 after selling 317,106 shares in NxStage Medical , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.NxStage Medical makes up approximately 1.87% of Cortina Asset Management’s portfolio.

Other Hedge Funds, Including , Alliancebernstein boosted its stake in NXTM in the latest quarter, The investment management firm added 16,100 additional shares and now holds a total of 109,310 shares of NxStage Medical which is valued at $2,783,033. Denver Investment Advisors sold out all of its stake in NXTM during the most recent quarter. The investment firm sold 10,190 shares of NXTM which is valued $261,577. Secor Capital Advisors Lp sold out all of its stake in NXTM during the most recent quarter. The investment firm sold 12,569 shares of NXTM which is valued $322,646.California State Teachers Retirement System reduced its stake in NXTM by selling 461 shares or 0.34% in the most recent quarter. The Hedge Fund company now holds 133,515 shares of NXTM which is valued at $2,937,998. NxStage Medical makes up approx 0.01% of California State Teachers Retirement System’s portfolio.Nisa Investment Advisors boosted its stake in NXTM in the latest quarter, The investment management firm added 15,600 additional shares and now holds a total of 16,700 shares of NxStage Medical which is valued at $361,722.

NxStage Medical closed down -0.18 points or -0.76% at $23.56 with 2,40,307 shares getting traded on Tuesday. Post opening the session at $23.82, the shares hit an intraday low of $23.55 and an intraday high of $23.96 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, NxStage Medical reported $-0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.04. The company had revenue of $92.20 million for the quarter, compared to analysts expectations of $89.30 million. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.08 EPS.

Many Wall Street Analysts have commented on NxStage Medical. NxStage Medical was Upgraded by Northland Capital to ” Outperform” on Jun 28, 2016.

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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