On Monaday, Shares of NxStage Medical, Inc. (Nasdaq: NXTM), loss -15.22% and now trading at $22.90 in the current trading session. The current trading range of the stock ranges between $20.45 and $23.38.
NxStage Medical, Inc. (Nasdaq: NXTM), a main medical technology company concentrated on advancing renal care, recently stated financial results for the 1st– quarter of 2017, reviewed recent progress on its product pipeline, and updated its outlook for 2017.
Total revenue for the 1st– quarter of 2017 increased 9.00% to $96.80M, at the high end of its guidance range of $95.00 to $97.00M, contrast with revenue of $89.20M for the 1st- quarter of 2016.
The Company’s revenue performance was driven by the Products Business, and more specifically, the System One segment, which consists of the Home and Critical Care markets. Home revenue increased 10.00% to $54.60M for the 1st- quarter of 2017 contrast with revenue of $49.50M for the 1st- quarter of 2016. Critical Care revenue increased 2.00% to $20.10M for the 1st- quarter of 2017 contrast with revenue of $19.80M for the 1st- quarter of 2016.
Net loss attributable to NxStage Medical, Inc.’s stockholders improved to $1.20M for the 1st- quarter of 2017 contrast with a net loss of $1.30M for the 1st- quarter of 2016. The net loss for the 1st- quarter of 2017 included $3.90M of income from operations from the Products Business.
The Company also declared that early client and patient feedback in the UK on its recently launched next generation hemodialysis system has been very positive, validating many of the benefits it imagined. This innovative system consists of new features and capabilities, numbering a new touch screen consumer interface and integrated blood pressure monitor designed to improve ease of use for patients performing home hemodialysis.
“We believe we are well positioned with tremendous growth opportunities. We continue to perform at a high level and advance our goods pipeline at an impressive pace,” stated Jeffrey H. Burbank, Founder and CEO of NxStage. “I believe that we have one of the most exciting product pipelines in the industry. Our primary objective is to deliver innovative solutions that have the potential to give ESRD patients the ability to live longer and fuller lives while on dialysis. We don’t underestimate the hard work it will take to bring these innovations to market, but we remain confident in our capabilities. We believe our goods and track record speak for themselves.”
Burbank continued, “We expect our peritoneal dialysis (PD) system to be transformative in the existing $3.00B worldwide PD market because of its unique design which eliminates bagged fluid and gives greater medical flexibility for patients and their care teams. We believe, but can’t know with certainty, that we will likely be 1st- to market. It won’t be by the end of this year as we originally targeted over 18.00 months ago, but we’re targeting to be there before anyone else. More importantly, we’re targeting to be the best technology on the market.”
“Given the strength of the overall business, we continue to expect total company revenue in a range of $400.00 to $405.00M and total company profitability for 2017. However, with a slower start in the Home market than we anticipated, we are revising our annual Home revenue growth target to be between 10.00 to 13.00% for 2017 as compared to our earlier 15.00% target,” stated Matthew Towse, CFO of NxStage. “Although the year isn’t building in line with our original expectations, we carried on to believe we are in a great position to drive long term development, advance our product pipeline, and make further developments within our key financial metrics.”
For the 2nd– quarter of 2017, the Company anticipates revenue to be in a range of $95.00 to $97.00M, and a net loss in the range of $1.00 to $3.00M.
NxStage will host a conference call recently, Tuesday, May 9, 2017, at 9:00 a.m. Eastern Time to talk about its 1st- quarter financial results. To listen to the conference/ discussion call, please dial 877-392-9886 (local) or 707-287-9329 (worldwide). The call will also be webcast LIVE and can be accessed via the investor relations section of the Company’s website at http://ir.nxstage.com.
A replay of the conference call will be accessible two hours after the completion of the call through May 17, 2017. To get the replay, dial 855-859-2056 (local) or 404-537-3406 (worldwide) and reference conference ID 3317702 . An online archive of the conference/discussion call can be accessed via the investor relations section of the Company’s website.
Analyst recommendation for this stock stands at 1.80.