Sterling Capital Management LLC Decreases Position in NxStage Medical, Inc. (NXTM)

Sterling Capital Management LLC decreased its position in shares of NxStage Medical, Inc. (NASDAQ:NXTM) by 7.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,574 shares of the medical device company’s stock after selling 5,550 shares during the quarter. Sterling Capital Management LLC owned 0.10% of NxStage Medical worth $1,619,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC acquired a new stake in shares of NxStage Medical during the second quarter worth about $2,684,000. Birchview Capital LP lifted its holdings in shares of NxStage Medical by 21.3% during the second quarter. Birchview Capital LP now owns 34,200 shares of the medical device company’s stock worth $857,000 after purchasing an additional 6,000 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of NxStage Medical by 67.9% during the first quarter. Russell Investments Group Ltd. now owns 28,847 shares of the medical device company’s stock worth $773,000 after purchasing an additional 11,668 shares during the period. Redmile Group LLC acquired a new stake in shares of NxStage Medical during the second quarter worth about $16,480,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of NxStage Medical by 7.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 277,899 shares of the medical device company’s stock worth $7,457,000 after purchasing an additional 18,189 shares during the period. 92.66% of the stock is owned by hedge funds and other institutional investors.

NxStage Medical, Inc. (NASDAQ:NXTM) opened at 27.44 on Friday. NxStage Medical, Inc. has a one year low of $20.45 and a one year high of $30.80. The firm’s market capitalization is $1.81 billion. The firm has a 50-day moving average price of $27.67 and a 200-day moving average price of $25.90.

NxStage Medical (NASDAQ:NXTM) last posted its quarterly earnings results on Monday, August 7th. The medical device company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $96.47 million. NxStage Medical had a negative return on equity of 2.43% and a negative net margin of 1.33%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) EPS. Equities analysts anticipate that NxStage Medical, Inc. will post ($0.05) earnings per share for the current year.

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NXTM has been the subject of a number of research reports. Craig Hallum initiated coverage on NxStage Medical in a report on Tuesday, June 27th. They set a “buy” rating and a $32.00 target price for the company. BidaskClub raised NxStage Medical from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Leerink Swann downgraded NxStage Medical from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $28.00 to $30.00 in a report on Tuesday, August 22nd. Zacks Investment Research downgraded NxStage Medical from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Stephens downgraded NxStage Medical from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $33.00 to $30.00 in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. NxStage Medical has an average rating of “Hold” and a consensus price target of $30.25.

In other news, SVP Winifred L. Swan sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $29.21, for a total value of $102,235.00. Following the completion of the sale, the senior vice president now directly owns 16,270 shares of the company’s stock, valued at approximately $475,246.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Joseph E. Turk, Jr. sold 7,000 shares of NxStage Medical stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $22.98, for a total value of $160,860.00. Following the transaction, the president now directly owns 82,903 shares of the company’s stock, valued at $1,905,110.94. The disclosure for this sale can be found here. Insiders sold a total of 46,100 shares of company stock valued at $1,302,132 over the last three months. Insiders own 4.70% of the company’s stock.

NxStage Medical Profile

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.

Institutional Ownership by Quarter for NxStage Medical (NASDAQ:NXTM)

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