NxStage Medical, Inc. (NXTM) Stock Rating Lowered by William Blair
NxStage Medical, Inc. (NASDAQ:NXTM) was downgraded by William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday.
Other equities research analysts have also issued reports about the company. BidaskClub upgraded NxStage Medical from a “hold” rating to a “buy” rating in a report on Friday, June 30th. 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 for the company. Jefferies Group LLC reduced their price target on NxStage Medical from $38.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 10th. BTIG Research reiterated a “buy” rating and set a $27.00 price target on shares of NxStage Medical in a report on Wednesday, May 10th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $32.00 price target on shares of NxStage Medical in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. NxStage Medical has a consensus rating of “Hold” and an average price target of $29.17.
NxStage Medical (NASDAQ NXTM) opened at 29.32 on Monday. The stock’s 50 day moving average is $24.04 and its 200 day moving average is $25.76. The stock’s market capitalization is $1.93 billion. NxStage Medical has a one year low of $20.45 and a one year high of $30.80.
NxStage Medical (NASDAQ:NXTM) last released its earnings results on Monday, August 7th. The medical device company reported ($0.03) earnings per share for the quarter, meeting the Thomson Reuters’ 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 2.31% and a negative net margin of 1.25%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) EPS. On average, equities analysts forecast that NxStage Medical will post ($0.03) EPS for the current year.
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In other news, President Joseph E. Turk, Jr. sold 24,000 shares of the company’s 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 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 SEC, which can be accessed through this link. Also, President Joseph E. Turk, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $25.19, for a total value of $25,190.00. Following the transaction, the president now owns 75,903 shares of the company’s stock, valued at $1,911,996.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,900 shares of company stock valued at $1,374,813. Corporate insiders own 4.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NXTM. Norges Bank acquired a new position in shares of NxStage Medical during the fourth quarter worth approximately $11,841,000. CWM LLC acquired a new position in shares of NxStage Medical during the second quarter worth approximately $2,684,000. Bank of New York Mellon Corp raised its position in shares of NxStage Medical by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 639,866 shares of the medical device company’s stock worth $17,168,000 after buying an additional 2,914 shares during the period. Adams Diversified Equity Fund Inc. raised its position in shares of NxStage Medical by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 41,000 shares of the medical device company’s stock worth $1,100,000 after buying an additional 1,100 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of NxStage Medical by 67.9% in the first quarter. Russell Investments Group Ltd. now owns 28,847 shares of the medical device company’s stock worth $773,000 after buying an additional 11,668 shares during the period. Institutional investors own 91.11% of the company’s stock.
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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