NxStage Medical, Inc. (NASDAQ:NXTM)‘s stock had its “hold” rating reaffirmed by equities researchers at Canaccord Genuity in a research report issued on Tuesday, October 17th. They currently have a $30.00 price objective on the medical device company’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 10.66% from the stock’s current price.
Several other analysts have also recently issued reports on NXTM. Zacks Investment Research cut shares of NxStage Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Leerink Swann cut shares of NxStage Medical from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $28.00 to $30.00 in a research note on Tuesday, August 22nd. BTIG Research cut shares of NxStage Medical from a “buy” rating to a “neutral” rating in a research note on Friday, August 11th. Stephens cut shares of NxStage Medical from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $33.00 to $30.00 in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC cut shares of NxStage Medical from a “buy” rating to a “hold” rating and dropped their price objective for the company from $33.00 to $30.00 in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. NxStage Medical currently has a consensus rating of “Hold” and a consensus target price of $30.25.
NxStage Medical (NASDAQ NXTM) traded down 0.73% during mid-day trading on Tuesday, hitting $27.11. The company had a trading volume of 731,327 shares. NxStage Medical has a 1-year low of $20.45 and a 1-year high of $30.80. The company has a 50 day moving average of $27.62 and a 200 day moving average of $25.93. The firm’s market capitalization is $1.79 billion.
NxStage Medical (NASDAQ:NXTM) last released its quarterly earnings results on Monday, August 7th. The medical device company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). NxStage Medical had a negative net margin of 1.33% and a negative return on equity of 2.43%. The firm had revenue of $92.20 million during the quarter, compared to the consensus estimate of $96.47 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. Analysts predict that NxStage Medical will post ($0.05) earnings per share for the current fiscal year.
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In other news, President Joseph E. Turk, Jr. sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $29.26, for a total value of $29,260.00. Following the completion of the sale, the president now owns 74,903 shares of the company’s stock, valued at approximately $2,191,661.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Winifred L. Swan sold 3,500 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $29.21, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders sold 49,600 shares of company stock valued at $1,398,382. Corporate insiders own 4.70% of the company’s stock.
Several hedge funds have recently modified their holdings of NXTM. SG Americas Securities LLC acquired a new position in shares of NxStage Medical in the 1st quarter worth approximately $140,000. Ameritas Investment Partners Inc. acquired a new position in shares of NxStage Medical in the 1st quarter worth approximately $148,000. Quantitative Systematic Strategies LLC acquired a new position in shares of NxStage Medical in the 2nd quarter worth approximately $203,000. Amalgamated Bank lifted its holdings in shares of NxStage Medical by 7.1% in the 2nd quarter. Amalgamated Bank now owns 8,357 shares of the medical device company’s stock worth $210,000 after acquiring an additional 553 shares during the last quarter. Finally, Menta Capital LLC acquired a new position in shares of NxStage Medical in the 1st quarter worth approximately $212,000. Hedge funds and other institutional investors own 92.63% of the company’s stock.
NxStage Medical Company 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.
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