ValuEngine Downgrades NxStage Medical (NXTM) to Sell

NxStage Medical (NASDAQ:NXTM) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Other equities analysts also recently issued research reports about the stock. Northland Securities reaffirmed a “hold” rating and set a $30.00 price target on shares of NxStage Medical in a research note on Wednesday, November 8th. Zacks Investment Research downgraded shares of NxStage Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $30.00 price target on shares of NxStage Medical in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $30.25.

Shares of NxStage Medical (NASDAQ:NXTM) traded down $0.05 on Friday, hitting $25.09. 491,029 shares of the company traded hands, compared to its average volume of 448,929. NxStage Medical has a fifty-two week low of $20.45 and a fifty-two week high of $30.80.

In other NxStage Medical news, SVP Winifred L. Swan sold 3,500 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $24.88, for a total transaction of $87,080.00. Following the transaction, the senior vice president now owns 13,770 shares of the company’s stock, valued at $342,597.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 10,500 shares of company stock worth $265,860. 4.70% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of NXTM. Alpine Associates Management Inc. purchased a new position in shares of NxStage Medical in the 3rd quarter valued at $110,163,000. Magnetar Financial LLC purchased a new position in shares of NxStage Medical in the 3rd quarter valued at $84,927,000. JPMorgan Chase & Co. raised its stake in shares of NxStage Medical by 239,738.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,870,741 shares of the medical device company’s stock valued at $51,502,000 after acquiring an additional 1,869,961 shares during the period. Redmile Group LLC purchased a new position in shares of NxStage Medical in the 2nd quarter valued at $16,480,000. Finally, State of Wisconsin Investment Board purchased a new position in shares of NxStage Medical in the 3rd quarter valued at $13,403,000. 85.59% of the stock is currently owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NxStage Medical (NASDAQ:NXTM)

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