Canaccord Genuity Lowers NxStage Medical, Inc. (NASDAQ:NXTM) to Hold
NxStage Medical, Inc. (NASDAQ:NXTM) was downgraded by equities research analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, The Fly reports.
NXTM has been the subject of a number of other reports. Northland Securities downgraded NxStage Medical from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 4th. BidaskClub raised NxStage Medical from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. BTIG Research reaffirmed a “buy” rating and issued a $27.00 target price on shares of NxStage Medical in a research note on Wednesday, May 10th. Craig Hallum started coverage on NxStage Medical in a research note on Tuesday, June 27th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Jefferies Group LLC cut their target price on NxStage Medical from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.67.
Shares of NxStage Medical (NASDAQ NXTM) traded up 28.22% during midday trading on Monday, reaching $29.67. 25,250,938 shares of the company traded hands. The stock has a 50 day moving average price of $24.08 and a 200 day moving average price of $25.81. NxStage Medical has a 1-year low of $20.45 and a 1-year high of $30.80. The firm’s market capitalization is $1.95 billion.
NxStage Medical (NASDAQ:NXTM) last issued its earnings results on Monday, August 7th. The medical device company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). NxStage Medical had a negative return on equity of 2.31% and a negative net margin of 1.25%. The business had revenue of $92.20 million during the quarter, compared to the consensus estimate of $96.47 million. During the same period last year, the company earned ($0.03) EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. Analysts expect that NxStage Medical will post ($0.03) earnings per share for the current fiscal year.
In related news, SVP Matthew W. Towse sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $23.29, for a total transaction of $100,147.00. Following the completion of the sale, the senior vice president now directly owns 29,637 shares of the company’s stock, valued at approximately $690,245.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Winifred L. Swan sold 3,500 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $21.94, for a total value of $76,790.00. Following the sale, the senior vice president now directly owns 17,770 shares of the company’s stock, valued at $389,873.80. The disclosure for this sale can be found here. Insiders sold a total of 29,150 shares of company stock valued at $669,351 over the last ninety days. Corporate insiders own 4.70% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of NxStage Medical by 6.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,450,307 shares of the medical device company’s stock worth $31,777,000 after buying an additional 88,286 shares during the last quarter. Morgan Stanley increased its stake in shares of NxStage Medical by 1.3% in the fourth quarter. Morgan Stanley now owns 67,174 shares of the medical device company’s stock worth $1,472,000 after buying an additional 874 shares during the last quarter. Tamarack Advisers LP acquired a new stake in shares of NxStage Medical during the fourth quarter worth about $42,177,000. EAM Investors LLC increased its stake in shares of NxStage Medical by 27.7% in the fourth quarter. EAM Investors LLC now owns 190,285 shares of the medical device company’s stock worth $4,169,000 after buying an additional 41,220 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in shares of NxStage Medical by 2.0% in the fourth quarter. OppenheimerFunds Inc. now owns 728,153 shares of the medical device company’s stock worth $15,954,000 after buying an additional 14,578 shares during the last quarter. 91.11% of the stock is owned by hedge funds and other institutional investors.
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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