NxStage Medical’s (NASDAQ:NXTM) Hold Rating Reiterated at Northland Securities
NxStage Medical, Inc. (NASDAQ:NXTM)‘s stock had its “hold” rating reissued by analysts at Northland Securities in a research report issued on Monday. They currently have a $30.00 target price on the medical device company’s stock. Northland Securities’ price objective would suggest a potential upside of 2.32% from the company’s current price.
The analysts wrote, “We continue to move our PD program forward at an impressive pace…We continue to firmly believe that by keeping our regulatory timelines and pathway confidential, we’re protecting a significant value opportunity. Let me be clear, we both have the opportunity to do great things for patients, bringing new technology to the market that makes PD easier and better.””
A number of other equities analysts also recently issued reports on the company. Craig Hallum downgraded NxStage Medical from a “buy” rating to a “hold” rating in a report on Monday. BidaskClub downgraded NxStage Medical from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC decreased their price objective 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 issued a $27.00 price objective on shares of NxStage Medical in a report on Wednesday, May 10th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $32.00 price objective on shares of NxStage Medical in a report on Monday, May 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $29.17.
Shares of NxStage Medical (NASDAQ:NXTM) opened at 29.32 on Monday. NxStage Medical has a 52-week low of $20.45 and a 52-week high of $30.80. The firm’s market cap is $1.93 billion. The company has a 50-day moving average of $24.04 and a 200 day moving average of $25.76.
NxStage Medical (NASDAQ:NXTM) last posted its quarterly earnings data on Monday, August 7th. The medical device company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $92.20 million during the quarter, compared to the consensus estimate of $96.47 million. NxStage Medical had a negative return on equity of 2.46% and a negative net margin of 1.33%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, equities analysts expect that NxStage Medical will post ($0.03) earnings per share for the current year.
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In other news, President Joseph E. Turk, Jr. sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $25.19, for a total transaction of $25,190.00. Following the completion of the transaction, the president now directly owns 75,903 shares in the company, valued at $1,911,996.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Winifred L. Swan sold 3,500 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $21.94, for a total value of $76,790.00. Following the transaction, the senior vice president now owns 17,770 shares of the company’s stock, valued at $389,873.80. The disclosure for this sale can be found here. Insiders have sold 52,900 shares of company stock valued at $1,374,813 over the last 90 days. Corporate insiders own 4.70% of the company’s stock.
Several institutional investors have recently modified their holdings of NXTM. Birchview Capital LP increased its position in shares of NxStage Medical by 21.3% in the second quarter. Birchview Capital LP now owns 34,200 shares of the medical device company’s stock valued at $857,000 after buying an additional 6,000 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of NxStage Medical by 36.6% in the second quarter. Principal Financial Group Inc. now owns 38,510 shares of the medical device company’s stock valued at $965,000 after buying an additional 10,319 shares during the last quarter. Neuberger Berman Group LLC bought a new position in shares of NxStage Medical during the second quarter valued at $453,000. Tamarack Advisers LP increased its position in shares of NxStage Medical by 15.9% in the second quarter. Tamarack Advisers LP now owns 127,500 shares of the medical device company’s stock valued at $3,196,000 after buying an additional 17,500 shares during the last quarter. Finally, William Blair Investment Management LLC increased its position in shares of NxStage Medical by 491.6% in the second quarter. William Blair Investment Management LLC now owns 1,959,318 shares of the medical device company’s stock valued at $49,120,000 after buying an additional 1,628,114 shares during the last quarter. Hedge funds and other institutional investors own 91.11% of the company’s stock.
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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