Craig Hallum Downgrades NxStage Medical, Inc. (NXTM) to Hold
NxStage Medical, Inc. (NASDAQ:NXTM) was downgraded by investment analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, The Fly reports.
A number of other research analysts also recently weighed in on NXTM. Northland Securities downgraded NxStage Medical from an “outperform” rating to a “market perform” rating in a report on Thursday, May 4th. Canaccord Genuity reaffirmed a “buy” rating and issued a $32.00 price objective on shares of NxStage Medical in a research note on Monday, May 8th. BTIG Research reaffirmed a “buy” rating and issued a $27.00 price objective on shares of NxStage Medical in a research note on Wednesday, May 10th. Jefferies Group LLC decreased their price objective on NxStage Medical from $38.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 10th. Finally, BidaskClub raised NxStage Medical from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $30.50.
Shares of NxStage Medical (NXTM) traded up 28.328% during midday trading on Monday, reaching $29.695. The company had a trading volume of 16,123,924 shares. NxStage Medical has a 12-month low of $20.45 and a 12-month high of $30.80. The company has a 50 day moving average of $24.08 and a 200 day moving average of $25.81. The firm’s market capitalization is $1.95 billion.
NxStage Medical (NASDAQ:NXTM) last posted its earnings results on Monday, August 7th. The medical device company reported ($0.03) earnings per share for the quarter, meeting 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 company had revenue of $92.20 million for the quarter, compared to the consensus estimate of $96.47 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. NxStage Medical’s revenue was up .0% on a year-over-year basis. Analysts anticipate that NxStage Medical will post ($0.03) EPS for the current year.
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In other news, SVP Matthew W. Towse sold 4,300 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $21.36, for a total value of $91,848.00. Following the transaction, the senior vice president now owns 29,637 shares of the company’s stock, valued at $633,046.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the transaction, the senior vice president now directly owns 17,770 shares in the company, valued at approximately $389,873.80. The disclosure for this sale can be found here. Insiders sold 29,150 shares of company stock worth $669,351 in the last ninety days. Corporate insiders own 4.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC increased its stake in shares of NxStage Medical by 1,459.3% in the second quarter. Acrospire Investment Management LLC now owns 4,678 shares of the medical device company’s stock valued at $101,000 after buying an additional 4,378 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of NxStage Medical by 57.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,548 shares of the medical device company’s stock valued at $120,000 after buying an additional 2,026 shares during the period. SG Americas Securities LLC acquired a new stake in shares of NxStage Medical during the first quarter valued at about $140,000. Ameritas Investment Partners Inc. acquired a new stake in shares of NxStage Medical during the first quarter valued at about $148,000. Finally, Cutler Group LP increased its stake in shares of NxStage Medical by 28.3% in the second quarter. Cutler Group LP now owns 7,168 shares of the medical device company’s stock valued at $155,000 after buying an additional 1,583 shares during the period. 91.11% of the stock is currently owned by institutional investors.
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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