Wall Street brokerages forecast that NxStage Medical, Inc. (NASDAQ:NXTM) will announce $102.29 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for NxStage Medical’s earnings. The lowest sales estimate is $100.90 million and the highest is $103.60 million. NxStage Medical reported sales of $91.95 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.2%. The company is expected to issue its next quarterly earnings report on Thursday, November 23rd.
According to Zacks, analysts expect that NxStage Medical will report full-year sales of $102.29 million for the current fiscal year, with estimates ranging from $394.93 million to $402.90 million. For the next fiscal year, analysts expect that the business will post sales of $443.89 million per share, with estimates ranging from $435.90 million to $460.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for NxStage Medical.
NXTM has been the subject of a number of recent analyst reports. Zacks Investment Research raised NxStage Medical from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Thursday, August 10th. Stephens cut NxStage Medical from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $33.00 to $30.00 in a report on Wednesday, August 9th. Canaccord Genuity reiterated a “hold” rating and issued a $30.00 target price on shares of NxStage Medical in a report on Tuesday, October 17th. Northland Securities reiterated a “hold” rating and issued a $30.00 target price on shares of NxStage Medical in a report on Monday, August 7th. Finally, Craig Hallum cut NxStage Medical from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $30.25.
In other NxStage Medical news, President Joseph E. Turk, Jr. sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $27.95, for a total transaction of $27,950.00. Following the transaction, the president now owns 73,903 shares in the company, valued at $2,065,588.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Winifred L. Swan sold 3,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $25.73, for a total value of $90,055.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,600 shares of company stock worth $484,722. 4.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC lifted its stake in shares of NxStage Medical by 26.6% in the third quarter. Sterling Capital Management LLC now owns 81,767 shares of the medical device company’s stock worth $2,257,000 after acquiring an additional 17,193 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of NxStage Medical by 11.7% in the third quarter. California Public Employees Retirement System now owns 103,761 shares of the medical device company’s stock worth $2,864,000 after acquiring an additional 10,861 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of NxStage Medical in the third quarter worth about $4,140,000. Burren Capital Advisors Ltd acquired a new position in shares of NxStage Medical in the third quarter worth about $806,000. Finally, PEAK6 Investments L.P. acquired a new position in shares of NxStage Medical in the third quarter worth about $1,867,000. Institutional investors own 92.31% of the company’s stock.
Shares of NxStage Medical (NASDAQ:NXTM) traded up $0.11 during trading hours on Friday, hitting $25.99. The stock had a trading volume of 275,240 shares, compared to its average volume of 542,546. NxStage Medical has a twelve month low of $20.45 and a twelve month high of $30.80.
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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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