NxStage Medical, Inc. (NASDAQ:NXTM) President Sells $711,360.00 in Stock
NxStage Medical, Inc. (NASDAQ:NXTM) President Joseph E. Turk, Jr. sold 24,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $29.64, for a total transaction of $711,360.00. Following the completion of the transaction, the president now directly owns 82,903 shares in the company, valued at $2,457,244.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
NxStage Medical, Inc. (NXTM) opened at 29.32 on Wednesday. NxStage Medical, Inc. has a 12 month low of $20.45 and a 12 month high of $30.80. The stock has a 50 day moving average of $24.04 and a 200 day moving average of $25.76. The company’s market capitalization is $1.93 billion.
NxStage Medical (NASDAQ:NXTM) last released its quarterly earnings data on Monday, August 7th. The medical device company reported ($0.03) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03). The business had revenue of $92.20 million for the quarter, compared to the consensus estimate of $96.47 million. NxStage Medical had a negative net margin of 1.33% and a negative return on equity of 2.46%. The company’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) earnings per share. Equities analysts anticipate that NxStage Medical, Inc. will post ($0.03) EPS for the current fiscal year.
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Several brokerages have recently weighed in on NXTM. Stephens lowered shares of NxStage Medical from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. Jefferies Group LLC lowered shares of NxStage Medical from a “buy” rating to a “hold” rating and dropped their price objective for the company from $33.00 to $30.00 in a research report on Tuesday. William Blair lowered shares of NxStage Medical from an “outperform” rating to a “market perform” rating in a research report on Monday. Northland Securities reissued a “hold” rating and issued a $30.00 price objective on shares of NxStage Medical in a research report on Monday. Finally, Canaccord Genuity lowered shares of NxStage Medical from a “buy” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.17.
Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in NxStage Medical during the fourth quarter valued at approximately $449,000. Norges Bank acquired a new stake in NxStage Medical during the fourth quarter valued at approximately $11,841,000. Teachers Advisors LLC increased its stake in NxStage Medical by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 116,182 shares of the medical device company’s stock valued at $3,045,000 after buying an additional 4,257 shares during the period. Capital Impact Advisors LLC acquired a new stake in NxStage Medical during the first quarter valued at approximately $1,194,000. Finally, Nationwide Fund Advisors increased its stake in NxStage Medical by 551.0% in the first quarter. Nationwide Fund Advisors now owns 258,975 shares of the medical device company’s stock valued at $6,948,000 after buying an additional 219,196 shares during the period. 91.11% of the stock is currently owned by institutional investors and hedge funds.
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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