Bank of New York Mellon Corp reduced its position in NxStage Medical, Inc. (NASDAQ:NXTM) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 563,237 shares of the medical device company’s stock after selling 24,759 shares during the period. Bank of New York Mellon Corp owned approximately 0.85% of NxStage Medical worth $15,545,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Kassirer Asset Management Corp purchased a new position in NxStage Medical in the 3rd quarter valued at about $552,000. Swiss National Bank boosted its position in NxStage Medical by 11.9% in the 3rd quarter. Swiss National Bank now owns 122,700 shares of the medical device company’s stock valued at $3,387,000 after buying an additional 13,000 shares during the last quarter. Prudential Financial Inc. purchased a new position in NxStage Medical in the 3rd quarter valued at about $202,000. IndexIQ Advisors LLC bought a new position in shares of NxStage Medical during the third quarter worth about $2,139,000. Finally, Gabelli Funds LLC bought a new position in shares of NxStage Medical during the third quarter worth about $4,941,000. 85.35% of the stock is owned by institutional investors.
NxStage Medical, Inc. (NASDAQ:NXTM) opened at $25.38 on Wednesday. NxStage Medical, Inc. has a 12-month low of $20.45 and a 12-month high of $30.80.
NXTM has been the topic of several research analyst reports. Zacks Investment Research cut shares of NxStage Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Canaccord Genuity reaffirmed a “hold” rating and set a $30.00 price target on shares of NxStage Medical in a research report on Tuesday, October 17th. Northland Securities reaffirmed a “hold” rating and set a $30.00 price target on shares of NxStage Medical in a research report on Wednesday, November 8th. Finally, Leerink Swann cut shares of NxStage Medical from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $28.00 to $30.00 in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. NxStage Medical currently has a consensus rating of “Hold” and an average price target of $30.25.
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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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