NxStage Medical, Inc. (NXTM) Given Consensus Recommendation of “Hold” by Brokerages
NxStage Medical, Inc. (NASDAQ:NXTM) has received an average recommendation of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $30.00.
NXTM has been the topic of a number of recent analyst reports. Craig Hallum initiated coverage on NxStage Medical in a report on Tuesday, June 27th. They set a “buy” rating and a $32.00 price target on the stock. BidaskClub raised NxStage Medical from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Leerink Swann cut NxStage Medical from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $28.00 to $30.00 in a report on Tuesday, August 22nd. Zacks Investment Research cut NxStage Medical from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Stephens cut NxStage Medical from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $33.00 to $30.00 in a report on Wednesday, August 9th.
In related news, SVP Winifred L. Swan sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $29.21, for a total transaction of $102,235.00. Following the transaction, the senior vice president now owns 16,270 shares in the company, valued at $475,246.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Joseph E. Turk, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $27.56, for a total transaction of $27,560.00. The disclosure for this sale can be found here. Insiders have sold 46,100 shares of company stock worth $1,302,132 in the last quarter. Company insiders own 4.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Koch Industries Inc. acquired a new position in NxStage Medical in the second quarter worth approximately $227,000. The Manufacturers Life Insurance Company grew its position in NxStage Medical by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 50,336 shares of the medical device company’s stock worth $1,262,000 after buying an additional 1,059 shares during the last quarter. Redmile Group LLC acquired a new position in NxStage Medical in the second quarter worth approximately $16,480,000. State Street Corp grew its position in NxStage Medical by 8.4% in the second quarter. State Street Corp now owns 1,340,810 shares of the medical device company’s stock worth $33,618,000 after buying an additional 104,007 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in NxStage Medical by 20.1% in the second quarter. Goldman Sachs Group Inc. now owns 100,452 shares of the medical device company’s stock worth $2,518,000 after buying an additional 16,817 shares during the last quarter. Hedge funds and other institutional investors own 92.66% of the company’s stock.
NxStage Medical (NASDAQ:NXTM) traded down 0.44% during mid-day trading on Thursday, reaching $27.44. The company’s stock had a trading volume of 802,254 shares. NxStage Medical has a 12 month low of $20.45 and a 12 month high of $30.80. The stock’s 50-day moving average is $27.68 and its 200-day moving average is $25.89. The firm’s market capitalization is $1.81 billion.
NxStage Medical (NASDAQ:NXTM) last released its quarterly earnings results on Monday, August 7th. The medical device company reported ($0.03) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.03). The company had revenue of $92.20 million for the quarter, compared to analysts’ expectations of $96.47 million. NxStage Medical had a negative return on equity of 2.43% and a negative net margin of 1.33%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, equities analysts anticipate that NxStage Medical will post ($0.05) EPS for the current year.
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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