Brokerages Expect NxStage Medical, Inc. (NXTM) Will Announce Quarterly Sales of $102.29 Million
Brokerages forecast that NxStage Medical, Inc. (NASDAQ:NXTM) will report $102.29 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for NxStage Medical’s earnings, with the highest sales estimate coming in at $103.60 million and the lowest estimate coming in at $100.90 million. NxStage Medical reported sales of $91.95 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.2%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that NxStage Medical will report full year sales of $102.29 million for the current fiscal year, with estimates ranging from $398.30 million to $402.90 million. For the next fiscal year, analysts anticipate that the company will post sales of $443.89 million per share, with estimates ranging from $435.90 million to $460.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover 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 (EPS) for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $92.20 million during 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%. NxStage Medical’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share.
A number of equities analysts recently weighed in on the stock. William Blair lowered shares of NxStage Medical from an “outperform” rating to a “market perform” rating in a report on Monday, August 7th. Zacks Investment Research upgraded shares of NxStage Medical from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Thursday, August 10th. Leerink Swann lowered shares of NxStage Medical from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $28.00 to $30.00 in a report on Tuesday, August 22nd. Canaccord Genuity lowered shares of NxStage Medical from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Monday, August 7th. Finally, BidaskClub lowered shares of NxStage Medical from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $30.25.
NxStage Medical (NASDAQ NXTM) opened at 27.05 on Monday. The company’s market capitalization is $1.79 billion. The stock has a 50 day moving average price of $27.57 and a 200 day moving average price of $25.94. NxStage Medical has a 12-month low of $20.45 and a 12-month high of $30.80.
In other NxStage Medical news, SVP Winifred L. Swan sold 3,500 shares of NxStage Medical stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $27.50, for a total value of $96,250.00. Following the completion of the sale, the senior vice president now owns 15,270 shares of the company’s stock, valued at approximately $419,925. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Joseph E. Turk, Jr. sold 24,000 shares of NxStage Medical stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $29.64, for a total transaction of $711,360.00. Following the completion of the sale, the president now directly owns 82,903 shares of the company’s stock, valued at approximately $2,457,244.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,600 shares of company stock valued at $1,398,382. 4.70% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of NxStage Medical during the 1st quarter valued at $140,000. Quantitative Systematic Strategies LLC bought a new stake in shares of NxStage Medical during the 2nd quarter valued at $203,000. Amalgamated Bank grew its position in shares of NxStage Medical by 7.1% during the 2nd quarter. Amalgamated Bank now owns 8,357 shares of the medical device company’s stock valued at $210,000 after acquiring an additional 553 shares during the period. Menta Capital LLC bought a new stake in shares of NxStage Medical during the 1st quarter valued at $212,000. Finally, Jane Street Group LLC bought a new stake in shares of NxStage Medical during the 1st quarter valued at $213,000. 92.22% of the stock is owned by hedge funds and other 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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