Shares of NxStage Medical, Inc. (NASDAQ:NXTM) have received an average recommendation of “Buy” from the seven analysts that are covering the firm. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $30.80.
Several research analysts recently weighed in on NXTM shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of NxStage Medical in a research note on Wednesday, March 22nd. Canaccord Genuity set a $31.00 target price on NxStage Medical and gave the company a “buy” rating in a report on Monday, January 23rd. Northland Securities reaffirmed a “buy” rating and set a $35.00 target price on shares of NxStage Medical in a report on Monday, April 3rd. Finally, Zacks Investment Research downgraded NxStage Medical from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 5th.
In other news, President Joseph E. Turk, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $27.53, for a total transaction of $27,530.00. Following the completion of the sale, the president now directly owns 79,903 shares of the company’s stock, valued at approximately $2,199,729.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert S. Brown sold 21,615 shares of the firm’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $26.20, for a total value of $566,313.00. Following the sale, the insider now directly owns 40,764 shares of the company’s stock, valued at $1,068,016.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,892 shares of company stock valued at $6,901,798. Company insiders own 4.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NXTM. Deerfield Management Co. raised its position in shares of NxStage Medical by 3.9% in the fourth quarter. Deerfield Management Co. now owns 4,258,196 shares of the medical device company’s stock worth $111,607,000 after buying an additional 159,021 shares in the last quarter. Perceptive Advisors LLC bought a new position in shares of NxStage Medical during the fourth quarter worth approximately $50,533,000. BlackRock Fund Advisors raised its position in shares of NxStage Medical by 3.1% in the third quarter. BlackRock Fund Advisors now owns 1,879,138 shares of the medical device company’s stock worth $46,960,000 after buying an additional 57,187 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of NxStage Medical during the third quarter worth approximately $44,715,000. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of NxStage Medical by 10.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,660,469 shares of the medical device company’s stock worth $41,495,000 after buying an additional 157,459 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.
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NxStage Medical (NASDAQ:NXTM) traded down 0.68% during mid-day trading on Friday, hitting $27.90. 368,993 shares of the stock traded hands. The stock’s market cap is $1.82 billion. NxStage Medical has a 12-month low of $15.30 and a 12-month high of $29.99. The company has a 50 day moving average of $27.13 and a 200-day moving average of $26.20.
NxStage Medical (NASDAQ:NXTM) last announced its earnings results on Tuesday, February 28th. The medical device company reported ($0.02) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). NxStage Medical had a negative return on equity of 2.97% and a negative net margin of 1.61%. The business earned $93.01 million during the quarter, compared to analysts’ expectations of $91.82 million. During the same quarter last year, the business posted ($0.04) earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis.
About NxStage Medical
NxStage Medical, Inc is a medical technology company. The Company develops, manufactures and markets products and services for patients suffering from chronic or acute kidney failure. It operates through three segments. The System One segment includes revenues from the sale and rental of the System One and PureFlow SL dialysate preparation equipment and the sale of disposable products in the home and critical care markets.
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