NxStage Medical, Inc. (NXTM) Expected to Announce Quarterly Sales of $102.79 Million
Brokerages expect that NxStage Medical, Inc. (NASDAQ:NXTM) will report sales of $102.79 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for NxStage Medical’s earnings, with the lowest sales estimate coming in at $102.36 million and the highest estimate coming in at $103.60 million. NxStage Medical posted sales of $91.95 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.8%. The company is expected to issue its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that NxStage Medical will report full-year sales of $102.79 million for the current fiscal year, with estimates ranging from $399.98 million to $402.90 million. For the next year, analysts forecast that the firm will post sales of $444.79 million per share, with estimates ranging from $436.45 million to $460.20 million. Zacks’ sales calculations are an average based on a survey of analysts that follow NxStage Medical.
NxStage Medical (NASDAQ:NXTM) last released 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 2.43% and a negative net margin of 1.33%. The company had revenue of $92.20 million during the quarter, compared to analyst estimates of $96.47 million. During the same quarter in the previous year, the company posted ($0.03) EPS. NxStage Medical’s revenue for the quarter was up .0% on a year-over-year basis.
NXTM has been the subject of several analyst reports. BidaskClub raised shares of NxStage Medical from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Craig Hallum initiated coverage on shares of NxStage Medical in a research note on Tuesday, June 27th. They set a “buy” rating and a $32.00 price target for the company. Jefferies Group LLC decreased their price target on shares of NxStage Medical from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, May 10th. BTIG Research reaffirmed a “buy” rating and set a $27.00 price target on shares of NxStage Medical in a research note on Wednesday, May 10th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $32.00 price target on shares of NxStage Medical in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. NxStage Medical presently has a consensus rating of “Hold” and an average price target of $30.29.
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Shares of NxStage Medical (NXTM) opened at 29.23 on Wednesday. The company’s market cap is $1.93 billion. NxStage Medical has a 1-year low of $20.45 and a 1-year high of $30.80. The stock has a 50 day moving average price of $25.26 and a 200-day moving average price of $25.88.
In related news, SVP Winifred L. Swan sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $23.14, for a total value of $80,990.00. Following the completion of the transaction, the senior vice president now owns 17,270 shares of the company’s stock, valued at $399,627.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Joseph E. Turk, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $25.19, for a total transaction of $25,190.00. Following the completion of the transaction, the president now directly owns 75,903 shares of the company’s stock, valued at approximately $1,911,996.57. The disclosure for this sale can be found here. Insiders have sold 53,900 shares of company stock valued at $1,429,518 in the last ninety days. Insiders own 4.70% of the company’s stock.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of NxStage Medical by 38,360.4% in the first quarter. BlackRock Inc. now owns 4,413,326 shares of the medical device company’s stock worth $118,408,000 after buying an additional 4,401,851 shares during the period. FMR LLC increased its position in shares of NxStage Medical by 31.8% in the second quarter. FMR LLC now owns 9,860,278 shares of the medical device company’s stock worth $247,197,000 after buying an additional 2,378,077 shares during the period. Eagle Asset Management Inc. acquired a new position in shares of NxStage Medical during the first quarter worth approximately $54,558,000. William Blair Investment Management LLC increased its position in shares of NxStage Medical by 491.6% in the second quarter. William Blair Investment Management LLC now owns 1,959,318 shares of the medical device company’s stock worth $49,120,000 after buying an additional 1,628,114 shares during the period. Finally, Redmile Group LLC acquired a new position in shares of NxStage Medical during the second quarter worth approximately $16,480,000. 91.82% of the stock is 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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