Wall Street brokerages expect that NxStage Medical, Inc. (NASDAQ:NXTM) will announce sales of $104.80 million for the current quarter, according to Zacks. Three analysts have provided estimates for NxStage Medical’s earnings. The highest sales estimate is $105.50 million and the lowest is $104.30 million. NxStage Medical reported sales of $93.01 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.7%. The company is scheduled to issue its next quarterly earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that NxStage Medical will report full-year sales of $104.80 million for the current fiscal year, with estimates ranging from $394.93 million to $402.90 million. For the next year, analysts expect that the company will report sales of $443.89 million per share, with estimates ranging from $435.90 million to $460.20 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for NxStage Medical.
NXTM has been the topic of several analyst reports. Zacks Investment Research lowered shares of NxStage Medical from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Northland Securities restated a “hold” rating and set a $30.00 price objective on shares of NxStage Medical in a report on Wednesday, November 8th. Finally, Canaccord Genuity restated a “hold” rating and set a $30.00 price objective on shares of NxStage Medical in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $30.25.
In related news, SVP Winifred L. Swan sold 3,500 shares of the firm’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $27.50, for a total value of $96,250.00. Following the completion of the transaction, the senior vice president now owns 15,270 shares of the company’s stock, valued at $419,925. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 10,500 shares of company stock valued at $275,030. 4.70% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Suntrust Banks Inc. grew its position in shares of NxStage Medical by 2.3% in the 2nd quarter. Suntrust Banks Inc. now owns 9,480 shares of the medical device company’s stock valued at $237,000 after acquiring an additional 209 shares during the period. Amalgamated Bank grew its position 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 valued at $210,000 after acquiring an additional 553 shares during the period. Legal & General Group Plc grew its position in shares of NxStage Medical by 3.5% in the 2nd quarter. Legal & General Group Plc now owns 25,349 shares of the medical device company’s stock valued at $630,000 after acquiring an additional 856 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of NxStage Medical by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,336 shares of the medical device company’s stock valued at $1,262,000 after acquiring an additional 1,059 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in shares of NxStage Medical by 4.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 33,866 shares of the medical device company’s stock valued at $849,000 after acquiring an additional 1,334 shares during the period. 85.35% of the stock is owned by institutional investors.
NxStage Medical (NASDAQ:NXTM) opened at $24.44 on Wednesday. NxStage Medical has a twelve month low of $20.45 and a twelve month high of $30.80. The firm has a market cap of $1,620.00, a P/E ratio of -116.38 and a beta of -0.08.
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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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