UPDATE: Feltl & Company Downgrades NxStage Medical to Hold
Feltl & Company lowers its rating NxStage Medical (NASDAQ: NXTM) to Hold and cuts its price target to $22 as valuation appears rich despite a expected solid performance for Q4.
Feltl & Company says, "We are downgrading NXTM to a HOLD as 4.4x EV/Rev multiple appears rich without any near term catalyst to accelerate HHD adoption, and the risk of potential competition entering the market earlier than expected."
NXTM closed at $20.87 a share on Monday.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.