Shares in NxStage Medical (NSDQ:NXTM) have fallen slightly today after the medical device maker missed expectations on Wall Street with its third quarter earnings results.
The Lawrence, Mass.-based company posted losses of $8.9 million, or 14¢ per share, on sales of $97.3 million for the 3 months ended September 30, seeing losses grow nearly 900% while sales grew a smaller 5.8% compared with the same period during the previous fiscal year, according to an SEC filing.
Losses per share were well ahead of Wall Street analysts’ consensus, who expected to see the company break even.
The company did not issue a regular press release for their 3rd quarter earnings report, but it expects to see revenue growth and demand in the home market to be strong both in the US and internationally, according to a Motley Fool report.
The company is reportedly “optimistic” about its upcoming possible $2 billion acquisition by Fresenius, which was announced in August, though it still needs to meet conditions including regulatory approval.
The $30-per-share deal, which is expected to close this year, represents a 29.6% premium on the August 4 closing price of $23.14 for NXTM shares. Fresenius said it plans to fund the deal with cash and debt and expects NxStage to add to net income and earnings per share within three years of the deal’s close.
The post NxStage shares dip on Q3 EPS miss appeared first on MassDevice.
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