UPDATE: Feltl & Company Downgrades NxStage Medical to Hold

Feltl & Company lowers its rating NxStage Medical 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.
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