Canaccord Genuity lowered shares of NxStage Medical, Inc. (NASDAQ:NXTM) from a buy rating to a hold rating in a research report released on Monday. They currently have $30.00 price target on the medical device company’s stock.
A number of other equities research analysts have also weighed in on NXTM. Northland Securities lowered NxStage Medical from an outperform rating to a market perform rating in a research note on Thursday, May 4th. BTIG Research restated a buy rating and set a $27.00 price objective on shares of NxStage Medical in a research note on Wednesday, May 10th. Jefferies Group LLC lowered their price objective on NxStage Medical from $38.00 to $33.00 and set a buy rating for the company in a research note on Wednesday, May 10th. Craig Hallum initiated coverage on NxStage Medical in a research note on Tuesday, June 27th. They set a buy rating and a $32.00 price objective for the company. Finally, BidaskClub upgraded NxStage Medical from a hold rating to a buy rating in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $30.29.
Shares of NxStage Medical (NASDAQ:NXTM) opened at 29.29 on Monday. NxStage Medical has a 52 week low of $20.45 and a 52 week high of $30.80. The firm has a 50-day moving average price of $24.57 and a 200-day moving average price of $25.80. The stock’s market cap is $1.93 billion.
NxStage Medical (NASDAQ:NXTM) last issued its quarterly earnings data on Monday, August 7th. The medical device company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). NxStage Medical had a negative return on equity of 2.46% and a negative net margin of 1.33%. The firm had revenue of $92.20 million during the quarter, compared to analyst estimates of $96.47 million. During the same quarter last year, the firm earned ($0.03) EPS. NxStage Medical’s quarterly revenue was up .0% on a year-over-year basis. On average, analysts forecast that NxStage Medical will post ($0.03) earnings per share for the current fiscal year.
In other news, SVP Matthew W. Towse sold 4,300 shares of NxStage Medical stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $21.36, for a total value of $91,848.00. Following the completion of the transaction, the senior vice president now owns 29,637 shares in the company, valued at approximately $633,046.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Winifred L. Swan sold 3,500 shares of NxStage Medical stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $21.94, for a total value of $76,790.00. Following the completion of the transaction, the senior vice president now owns 17,770 shares of the company’s stock, valued at approximately $389,873.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,900 shares of company stock valued at $1,374,813. Insiders own 4.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of NxStage Medical during the fourth quarter valued at approximately $449,000. Norges Bank bought a new position in NxStage Medical during the fourth quarter worth about $11,841,000. Teachers Advisors LLC raised its position in NxStage Medical by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 116,182 shares of the medical device company’s stock worth $3,045,000 after buying an additional 4,257 shares in the last quarter. Capital Impact Advisors LLC bought a new position in NxStage Medical during the first quarter worth about $1,194,000. Finally, Nationwide Fund Advisors raised its position in NxStage Medical by 551.0% in the first quarter. Nationwide Fund Advisors now owns 258,975 shares of the medical device company’s stock worth $6,948,000 after buying an additional 219,196 shares in the last quarter. Institutional investors own 91.11% of the company’s stock.
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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