NxStage Medical jumps on Q3 beat-and-raise, reveals pipeline

NxStage Medical (NSDQ:NXTM) shares started up today as investors reacted to beat-and-raise results for the home hemodialysis company’s 3rd-quarter and details about its development pipeline. Lawrence, Mass.-based NxStage said it narrowed its losses by -47.8% to -$1.7 million, or -3¢ per share, on sales growth of 14.9% to $86.5 million compared with Q3 2014. The consensus outlook on Wall Street was for losses of -8¢ on sales of $82.1 million. “Based on our performance and confidence around the 4th quarter, we are again raising our total revenue guidance for the year,” founder & CEO Jeffrey Burbank said in prepared remarks. “We remain confident in our 15% annual home revenue growth target for 2015. We are also increasingly confident that 2016 will be another strong year for NxStage, consistent with our target of a sustainable 15% home revenue growth rate.” NxStage said it now expects to report losses of -$15 million to -$16 million, down from prior guidance for -$18 million to -$20 million. Sales are now forecast at $332 million to $333 million, up from $324 million to $328 million, the company said. Fourth-quarter losses are expected to be -$2 million to -$3 million, on sales of $86 million to $87 million, NxStage said. The news sent NXTM shares up 5.0% to $17.74 apiece today in early trading. NxStage, which is hosting an analyst meeting in Lawrence today, also revealed details about the development pipeline it’s been teasing sin...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Dialysis MassDevice Earnings Roundup Wall Street Beat NxStage Medical Inc. Source Type: news