NxStage Medical, Inc. (NXTM) Rating Reiterated by Canaccord Genuity
NxStage Medical, Inc. (NASDAQ:NXTM)‘s stock had its “hold” rating reiterated by investment analysts at Canaccord Genuity in a research note issued on Tuesday. They presently have a $30.00 target price on the medical device company’s stock. Canaccord Genuity’s target price would indicate a potential upside of 8.15% from the stock’s current price.
NXTM has been the topic of a number of other research reports. William Blair lowered NxStage Medical from an “outperform” rating to a “market perform” rating in a research report on Monday, August 7th. Zacks Investment Research raised NxStage Medical from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Thursday, August 10th. Leerink Swann lowered NxStage Medical from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $28.00 to $30.00 in a research report on Tuesday, August 22nd. Craig Hallum began coverage on NxStage Medical in a research report on Tuesday, June 27th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, BidaskClub lowered NxStage Medical from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $30.25.
Shares of NxStage Medical (NASDAQ NXTM) traded up 0.33% during midday trading on Tuesday, hitting $27.74. The stock had a trading volume of 1,208,429 shares. The firm’s market cap is $1.83 billion. The firm’s 50 day moving average price is $27.70 and its 200 day moving average price is $25.86. NxStage Medical has a 52-week low of $20.45 and a 52-week high of $30.80.
NxStage Medical (NASDAQ:NXTM) last announced its earnings results on Monday, August 7th. The medical device company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $92.20 million for the quarter, compared to analyst estimates of $96.47 million. NxStage Medical had a negative return on equity of 2.43% and a negative net margin of 1.33%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.03) earnings per share. On average, equities research analysts expect that NxStage Medical will post ($0.05) earnings per share for the current year.
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In related news, President Joseph E. Turk, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $27.56, for a total transaction of $27,560.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Joseph E. Turk, Jr. sold 7,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $22.98, for a total transaction of $160,860.00. Following the transaction, the president now owns 82,903 shares of the company’s stock, valued at approximately $1,905,110.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,400 shares of company stock valued at $1,406,020. Insiders own 4.70% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Fortaleza Asset Management Inc. grew its stake in shares of NxStage Medical by 2.5% during the fourth quarter. Fortaleza Asset Management Inc. now owns 8,055 shares of the medical device company’s stock worth $211,000 after purchasing an additional 195 shares in the last quarter. Outfitter Advisors LTD. boosted its stake in NxStage Medical by 0.4% in the first quarter. Outfitter Advisors LTD. now owns 55,350 shares of the medical device company’s stock valued at $1,485,000 after acquiring an additional 200 shares in the last quarter. Suntrust Banks Inc. boosted its stake in NxStage Medical by 2.3% in the second 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 in the last quarter. Principal Financial Group Inc. boosted its stake in NxStage Medical by 1.1% in the first quarter. Principal Financial Group Inc. now owns 28,191 shares of the medical device company’s stock valued at $757,000 after acquiring an additional 303 shares in the last quarter. Finally, Chicago Equity Partners LLC boosted its stake in NxStage Medical by 0.5% in the first quarter. Chicago Equity Partners LLC now owns 79,930 shares of the medical device company’s stock valued at $2,145,000 after acquiring an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 92.66% of the company’s stock.
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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